Pay Chargeoff? Now or after it falls off report.

[Anonymous]

I have 2 unpaid charge offs left with a balance one from walmart (SOL expire 7/2016) reporting a balance of $1506. Another from University of Pheonix (SOL Expire 6/2015) Reporting a balance of $708. I have 12 Total Negatives on my account. 6 accounts are for late payments. and 3 accounts are paid charge offs and 1 account is paid collection. Do you think i should pay these charge offs now, pr is  worth it or will it cause more harm then good, or should I just wait til they pass SOL and then pay it. I tried for PFD and was denied every single time. Just looking for opinions. Thanks!

[Anonymous]

If the OC is reporting the CL and balance that is counting in your utilization.  If you paid it down of off it would not count anymore and your overall utilization would drop. 

Which SOL are you referring to, CRTP or your states suing SOL?

[Anonymous]

State limitations to sue. They are coming off my report on those dates.

[Anonymous]

I don't know of any state that their SOL is the same as the CRTP.  CRTP is 7 years.

[Anonymous]

I probably have the name wrong lol but yea its the credit reporting 7 year mark. Thats when its set to fall off. These are both OC and never sent to collections.

[Anonymous]

I wouldn't worry too much about that date.  I would worry if you are still within SOL for getting sued.

[Anonymous]

If you were in my shoes would you pay them off now or after they are off your report.

[Anonymous]

I would pay them off now.  Once paid they will no longer factor into your utilization and you could gain some points.

Are these your oldest accounts?

[Anonymous]

Yea the University of Pheonix one is. Walmart is the same as the others. Thanks for your input and yea thats what I am going to do. I just wanted to know your opinion. Thanks!