Mine is actually a charge off. The BOA rep stated that the charge off went into affect in 2014 and that it will stay on my report until 2021. With that being said, that made me believe that even tho I’m paying down on it, it wouldn’t reset the late payment clock meaning, seven years from my last recent payment. Am I correct?
The DoFD is set in stone it can never change even though you are making payments. What happens as you make payments is it keeps the CO brand new in the eyes of Fico even though it was years ago, this is why you want to pay if off as soon as possible to stop that monthly updating so it can age in Ficos eyes and your score begin to recover.
If I call them to do a PIF and not a settlement. What are the chances of them removing the charge off from my report?
In reality next to nil, OCs rarely do this unless its in the last year of being able to be report. The PFD is a tactic that was designed to take care of collection agencies on ones CR. You can make the offer to BoA and see what they say.