https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CO-with-a-balance/m-p/364350#M35555 <BLOCKQUOTE><HR />likewise wrote: <BR />If something is charged off, can it show a balance? Shouldn't the balance be $0? <HR /></BLOCKQUOTE><P>&nbsp;</P><P>Yes, you still owe the debt, even if it is charged off.</P><P>&nbsp;</P><P>When a company charges a debt off, they do so for tax purposes. </P><P>&nbsp;</P><P>The only time the OC must show a $0 balance is if you pay it or they sell it.</P> Mon, 20 Oct 2008 05:32:14 GMT Anonymous 2008-10-20T05:32:14Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CO-with-a-balance/m-p/364346#M35552 If something is charged off, can it show a balance? Shouldn't the balance be $0? Mon, 20 Oct 2008 05:07:59 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CO-with-a-balance/m-p/364346#M35552 Anonymous 2008-10-20T05:07:59Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CO-with-a-balance/m-p/364350#M35555 <BLOCKQUOTE><HR />likewise wrote: <BR />If something is charged off, can it show a balance? Shouldn't the balance be $0? <HR /></BLOCKQUOTE><P>&nbsp;</P><P>Yes, you still owe the debt, even if it is charged off.</P><P>&nbsp;</P><P>When a company charges a debt off, they do so for tax purposes. </P><P>&nbsp;</P><P>The only time the OC must show a $0 balance is if you pay it or they sell it.</P> Mon, 20 Oct 2008 05:32:14 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CO-with-a-balance/m-p/364350#M35555 Anonymous 2008-10-20T05:32:14Z