topic Re: Old CO Account in General Credit Topics

Old CO Account

corymcd88 — Sat, 24 May 2014 17:10:34 GMT

I have a CO account that is paid. The account have 1.5 years old good payment history before being late. In Oct of this year some of that good payment history is going to start to come off because it is at the 7 year mark and the rest in Mar 2016. When that good payment history starts to come off it that going to hert my score because some of the account was payed on time and they only thing is going to be bad history?

Re: Old CO Account

fot1 — Sat, 24 May 2014 17:52:03 GMT

Once it hit charge off status all the good payment history is basically lost..

Re: Old CO Account

corymcd88 — Sat, 24 May 2014 17:58:26 GMT

@fot1 wrote:
Once it hit charge off status all the good payment history is basically lost..

Will that make an impact on my CR?

Re: Old CO Account

mongstradamus — Sat, 24 May 2014 18:00:58 GMT

If the charge off is still on your credit report could have a major impact on your cr and scores.you should pull your report and see if its on there. If it is on your credit report then your next plan of action will probably be GW since you have already paid it.

Re: Old CO Account

fot1 — Sat, 24 May 2014 18:02:37 GMT

@corymcd88 wrote:
@fot1 wrote:
Once it hit charge off status all the good payment history is basically lost..
Will that make an impact on my CR?

Yes.. it should have already impacted you CR and scores.. Did you just recently pay this?

Re: Old CO Account

corymcd88 — Sat, 24 May 2014 18:11:38 GMT

Paid off Aug 2013. It is on all three CR EX: 684, EQ: 703, TU 768. Will that positive history have any effect on my report being removed as it is almost 7 years old? I have new credit in good standing since May 2010, 2005 if you count the AU accounts.

Re: Old CO Account

corymcd88 — Sat, 24 May 2014 18:14:11 GMT

@mongstradamus wrote:
If the charge off is still on your credit report could have a major impact on your cr and scores.you should pull your report and see if its on there. If it is on your credit report then your next plan of action will probably be GW since you have already paid it.

Tried GW and nothing, my TU FICO jumped this mouths to 768 from 710.

Re: Old CO Account

Shogun — Sun, 25 May 2014 05:21:03 GMT

@fot1 wrote:
Once it hit charge off status all the good payment history is basically lost..

The CO is the derog indicator on this one. The payment history is moot.

Re: Old CO Account

corymcd88 — Sun, 25 May 2014 17:19:33 GMT

So nothing really to worry about?

Re: Old CO Account

fot1 — Mon, 26 May 2014 19:22:44 GMT

@corymcd88 wrote:
So nothing really to worry about?

You have already felt th emajor effects on this CO.. .. At the 7 1/2 year mark from DOFD this entire account will be removed.. that may raise or lower your score depending on how the rest of you file looks..