topic Re: co every month. help! in Rebuilding Your Credit

co every month. help!

duke252 — Sun, 21 Aug 2022 22:03:48 GMT

I used to has have a secured card with Wells Fargo. It was closed in 2018 and they have been reporting a charge off every month with an $850 balance. how can i fix this?

Re: co every month. help!

mfinsmi1 — Sun, 21 Aug 2022 22:52:39 GMT

@duke252 You got to pay it off - that way theyll stop reporting a CO each month

Re: co every month. help!

Remedios — Sun, 21 Aug 2022 22:53:41 GMT

The only way to stop reporting is to pay/settle.

If you decide against it, it won't be too long before it goes to collections and they (will probably get sold at least a few times) will continue updating until removal time.

Your choices are having it constantly update or pay, there is no other way.

Re: co every month. help!

TheKid2 — Mon, 22 Aug 2022 13:56:56 GMT

Pay it off or negotiate a settlement for less. You can't ignore it or dispute your way out of it. Either will have the same impact on your scores and stop it reporting every month.

Paying in full is a better idea if you want to use the creditor again.