Charge Off

[Anonymous]

I just found out I have a charge off on my credit report from Lenscrafters from about 18 months ago.  I made the purchase about a week before my wedding, and honestly never gave it another thought.  I have never once received a bill, or a phone call.  It was never turned over to collections.

My question is this: would it be better for my credit to pay it, or ignore it until it falls off?  If I pay it now my 7 year cycle will start over again, right?

[PayYouNever]

You should be able to at least send a PFD, and see if LensCrafters plays ball. The 7 years doesn't start when you pay, but when the account first went delinquent, so you 5.5 years left. You don't want to wait that long when you have other options (i.e. PFD)... the CA or OC could make it all go away with a letter from you...