@Anonymous wrote:
Hello!
I’m looking for help with my credit report remarks. I had a cell phone account with Verizon, and it went to collections. After it was charged off, I paid the balance in full. My credit reports with both TransUnion and Equifax state in the comments “payment after charge off/collection”. Shouldn’t it also say “Paid in Full”? Would this more positive remark raise my credit score at all or make me more credit worthy?
Thank you in advance for your help.
Hi @Anonymous and welcome to the forums
It's just the different language used. "Payment after charge off/collection” indicates that it was paid, but also what preceded the payment, which is a collection. As long as balance reflects $0.00 owed, it makes no difference.
The damage was done when the account went to collections and collection reported. "Paid" vs."Payment after charge off/collection” would make no difference scoring wise.
The good news is, if that was your only or last unpaid negative, updates to that account stop and your score will gradually recover somewhat, though the impact of collection will be there for as long as stays on your CR.
