@Superk88 wrote:80k paid off...25 to go.
I'm planning on finishing out some active late accounts with a NFCU loan.
My question is...I have some accounts that are Charge offs...I have not hurd from anyone and as far as I know they have not sold the debt...it's been 8months to a year.
Should I reach out and try to settle?
Reason I'm asking as I have somone working to help clean up my credit report. They advise me then when they attempt to dispute these accounts it may rustle their feathers and they may try to collect.
They are correct in disputing a accurate CO comment will come back verified which looks like new to FICO and there goes some points. I would contact the OC's of the CO's very soon before CA's start to pop up on your file. There goes more points. Work out a payment plan with the settlement offer they give you. Congrats on what you've done so far. Disputes are for inaccurate info only. And yes your freind is right. Dont poke the bear. Good Luck!
List out your baddies as :
Creditor Name/Credit line/ Balance
Then the gang can help you out.
@Superk88 wrote:So on the charge offs just leave them be until they call me?
Trying to purchase a house next July and need a minimum score of 640...currenlty at 580
Thanks for posting the extra info. Since your going to be in the market to purchase a home under a year out. The Mortgage UW's will want to see no outstanding debts. That includes CO balances or any Collections. They'll all have to be settled/paid. Yes work with the OC's and get the CO's taken care of soon. As upthread. You dont want CA's added to your reports at all. Stop them in their tracks before that happens. Once the CO's are settled. You'll see a score rise. CO's are factured into your aggregate or overall revolving util %'s. Util % goes down. Scores go up. Interest rate goes down. See saw! 
If they are updating monthly settle ASAP to stop that update as per CRA rules once an account that is closed reaches 0 balance it is to no longer be updated and the longer something derog ages back in time before your home loan pulls the better for you. Fico goes off the date of "last updated" to score an account.
