Can someone help me understand my charged off credit cards and my utilization?

[tdrjustus3]

Did you pay any of the charge offs?

[Matt6995]

It has been over 2 years since you first asked for advice about this.

Did you pay off any of the accounts?

Is your credit report still the same as 03-2011?

From what you are describing sounds like everything is the same as it was 2 years ago.

[RobertEG]

You might look at a charge-off this way........

Aside from being a ding, it is othewise essentially immaterial to other items reported on the account, including util of the remaining debt.

It changes zip about the debt except in their accounting books, which is really of no concern to the consumer except for knowledge that they have already recoupted a part of their business loss by way of their tax writeoff.

The full debt is still owed just as if it had not been CO'd, and they can continue to attempt collection of the full amount, refer it for collections, or sell it to another, who can then continue to attempt to collect the full debt.  Other reporting on the account is not affected.

You dont "pay off a charge-off," you pay the debt that just happened to have been charged as a loss in their internal books.  Paying does not negate the fact that they took that accounting measure, and thus has nothing to do with deleting its reporting.  GW/PFD is about all you can do to remove a reported CO.

[KingReem]

Your best bet is to call the Bank and inquire about the account supply them with your personal information and then they should be able to tell you if it is still in their Possession or not then you can take it from there

[lisbonic]

Sorry for the lack of info.

I never touched any of those charge offs, for numerous reasons.  (Mostly finacial).

So I'm looking to have the means to take care of these badies finally with the tax return, but I want to make sure I do it right and maximize the score increase.

So here is some updated screen shots.

Here is my actual report though...

Hope this helps.  I just wnat to make sure that A) Aspen still owns this B) This is negativly affecting my Utilization.

Thanks everyone!

[InvincibleSummer3]

Yes, this is still being counted in your utilization.  Yes, this looks to be still owned by Aspen - but given the time elapsed, I would encourage you to pay this if you are able to do so, before they sell it off to a CA and you end up with a second tradeline.

Sources:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-Steps-Do-I-Take-Do-I-DV-PFD/td-p/337142

"When an OC sells an account, they have to report a $0 balance. If they still own the account, both the OC and the CA can report a balance."

and from MarineVietVet's post earlier in this here thread:

"If a closed CC account with a balance continues to report the original credit limit, then both the balance and the CL of the closed account will be used in the utilization calculations."