Welcome @Anonymous
Yes and no. Since its paid it will no longer count against you aggregate or overall revolving credit %'s. The CO in itself will still sting. When was the DoFD or fall off date. You can find that on your real reports from annualcreditreport.
@Anonymous wrote:My ex left me with over $5,000 on a credit card that was in my name, but only he ever used it. The account wound up as a charge off because he refused to pay it, and I couldn't afford to pay it. Fast forward a year or two, and I was finally able to pay it off. But now it's still showing up as a negative/charge off account on my credit report. Will this change, will it stay this way, did I just spend $5,000 for nothing?
Are all 3 of the CRA showing the balance paid in full? Or at least the ones it was being reported to. Has it been long enough since you've paid for your scores to reflect the payment?
Starting Score: 547EX
Well, unfortunately, yes, it'll remain on your reports as a paid charge off until 7 years from DOFD (Date of First Delinquency, or when the account first went delinquent and never became current again) have elapsed. But at least if it's paid, it won't be updating monthly and it won't hurt your utilization as a maxed out account.
