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Charge off

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Charge off

So my credit score is about 600 it's been stuck there for a minute, I do have a cap one quicksilver card and a car loan and a personal loan from USbank, anyways I also have 14 inquiries and 3 charge off accounts with a balance of about 500$ for all three of them.If I pay the charge off accounts would that boost my credit score at all if I get the company to remove it?

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Legendary Contributor

Re: Charge off

If you can get deletion of a reported charge-off or collection, that removes a major derog from scoring, so yes, it will always help.

However, FICO scoring places you into a less favorable scoring category ("bucket") when you have any remaining major derogs


With three charge-offs, the removal of only one will likely not result in huge score improvement.

However, once all major derogs are deleted or excluded, you will likely see a significant score boost.

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