https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345338#M116407 Yeah, paying them off helps not ONE little bit without a PFD...and even then it doesn't even always help that much. I recently had a $9000 Charge-off deleted from a credit report and my score went up FOUR points. It was also the most recent baddy on that report. And it is my lowest score to date still. Sun, 21 Sep 2008 18:39:47 GMT Anonymous 2008-09-21T18:39:47Z https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345308#M116399 <DIV>paying a charge-off does absolutely nothing for your fico score. i paid 3 charge-offs in fully and thought i would see a boost in my score. months later, NOTHING. not even a little.</DIV><DIV>&nbsp;</DIV><DIV>however, when my new credit cards ( 1 secured) reached 1 year. my score when up 37 points. so i would have to say that establishing new credit is more effective than paying a charge-off.</DIV><DIV>&nbsp;</DIV><DIV>reasons you should pay a charge off are:</DIV><DIV>&nbsp;</DIV><DIV>-its the right thing to do</DIV><DIV>-may make ur report look cleaner upon manual review</DIV><DIV>-you think the CA is going to start court proceedings or the account is placed with an actual law office and not a collection company.</DIV><BR /><BR />Message Edited by CreditDrama85 on <SPAN class="date_text">09-21-2008</SPAN> <SPAN class="time_text">11:13 AM</SPAN> Sun, 21 Sep 2008 18:13:52 GMT https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345308#M116399 CreditDrama85 2008-09-21T18:13:52Z https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345331#M116404 paying charge-offs is a waste. if they wouldn't do a pfd for me, especially if i tried to negotiate payment options earlier, i would tell them to stick it you-know-where. Sun, 21 Sep 2008 18:34:36 GMT https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345331#M116404 Anonymous 2008-09-21T18:34:36Z https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345338#M116407 Yeah, paying them off helps not ONE little bit without a PFD...and even then it doesn't even always help that much. I recently had a $9000 Charge-off deleted from a credit report and my score went up FOUR points. It was also the most recent baddy on that report. And it is my lowest score to date still. Sun, 21 Sep 2008 18:39:47 GMT https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345338#M116407 Anonymous 2008-09-21T18:39:47Z https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345341#M116408 <DIV>Paid charge offs do look better under manual review - it is important to remember that some banks still do more of a review than just looking at the FICO number. I also think it is important to emphasize that it is the right thing to do. I recommend you just be persistent with the goodwill letters, some people have mailed near a dozen before they had an effect. You never know when it will finally land in the hands of a sympathetic CSR or manager.</DIV> Sun, 21 Sep 2008 18:47:50 GMT https://ficoforums.myfico.com/t5/Credit-Cards/To-pay-a-charge-off-OR-Not-to-Pay-a-Charge-off/m-p/345341#M116408 Anonymous 2008-09-21T18:47:50Z