topic Re: Quick question in Rebuilding Your Credit

Quick question

Freshstart2020 — Mon, 26 Jul 2010 18:42:15 GMT

Confused. I read and researched that if you pay off a charge off it would raise your revolving % is that true? which would increase your score.

Re: Quick question

Anonymous — Mon, 26 Jul 2010 19:27:33 GMT

If the OC is reporting the CO, then yes, if you pay it, it will lower your utilization and raise your score.

Re: Quick question

Strike — Mon, 26 Jul 2010 19:32:00 GMT

So should you just PIF or should you pay for Delete on these types of accounts?

Re: Quick question

Anonymous — Mon, 26 Jul 2010 19:35:49 GMT

If it is still within suing SOL you stand the chance of being sued.

Even if you PIF, FICO still sees it as a major derogatory and it will continue to hurt your score until removed. (It will help with your utilization by paying it).

Another thing to consider is the AAoA of the account.