I have several accounts reporting as charged off. I'm paying on all of them. Some report to EX as CLS and I'm paying on them. Others report to EX as CO even though I'm paying on them as well. Does this affect my FICO and if so, is there anything I can do about this?
A charge off is a major derog so yes, it is affecting your scores. And even though you are paying on them it is still charged off.once it is paid off you can send GW letters asking for removal of the account.
Actually I found my own answer. Some of my closed cards were reporting closed, but a couple of the closed ones were reporting charge off. Now it makes sense. I'm still paying the closed cards to the original creditor. Those 2 reporting charge off are the 2 I'm paying to a third party. So my bad. Just got confused and thought that I was being punished more than I really am.
