Re: Does Paying an Old Charge-Off Help FICO: Yes or No?
11-10-2012 07:54 AM
My understanding of paying of old debt is it will not reset the clock on the CR rather may reset the clock for your states SOL if there is a remaining balance. Meaning you do not pay in full. The DOFD does not change once the account has been closed. If the creditor is reporting the debtor with late payments each month and the account was closed a consumers request, it may be in ones best interest to pay it off. This is what I have been told and just did myself. We will see what haapens here real soon.
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