Rebuilding credit

[Anonymous]

Charge offs are from 2016 with a last activity date of 2017 

I will definitely try to write a letter to the mortgage company then... I guess it's just patience and time... I'm wondering how bad of a hit my credit will take if the trailer mortgage is closed? We have it sold already but haven't closed on it yet 

[Anonymous]

The lender advised to pay off the collections and no more late pays, our mortgage scores have already come up since we started this process in November and it took me until April to get the late payments caught up on the auto loan. 

starting mortgage scores:

11/11/19: EX-516, TU-509, EQ-495 (lender)

[Anonymous]

Great job on the progress!

Do the charges off accounts have coresponding collection accounts that were paid? When a CO is sold to a collection agency the original creditor must report a $0 balance. Then the CA can hit your report with the balance owed. 

[Anonymous]

"Do the charges off accounts have coresponding collection accounts that were paid? When a CO is sold to a collection agency the original creditor must report a $0 balance. Then the CA can hit your report with the balance owe"

No they don't have collections accounts  

[Anonymous]

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@Anonymous wrote:

"Do the charges off accounts have coresponding collection accounts that were paid? When a CO is sold to a collection agency the original creditor must report a $0 balance. Then the CA can hit your report with the balance owe"

No they don't have collections accounts  

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Did you pay them in the past or are they still unpaid?

[Anonymous]

They've been paid a while ago last year or 18 months I can't remember for sure. They show closed with a 0 balance but the payment status shows that it was charged off 

[Anonymous]

Ok good deal. It's worth sending goodwill letters to them as well to see if they will remove the accounts from your credit report. People have varying degrees of success with that. Removing the CO's entirely should help as they are major derogatories and will have an affect for the full 7 years. This does diminish slightly with time though.