Established Contributor
Posts: 760
Registered: ‎02-11-2012
Re: will paying off a charge off improve score?

Settled for less than owed will have a longer negative effect on your fico score than paying in full.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)

Remember the Three P's: Pay early in Full, Pay on Time, Patience