charged off? write off?

[fused]

If you have three charge-offs with balances being reported by OCs, paying them to $0 will likely help your scores. CC Charge-offs being reported by an OC DO factor in FICO revolving utilization calculations...so basically an unpaid charge-off that reports an amount looking like you're also

over-the-limit will tank your scores in addition to the CO itself. As for collections being reported by a CA, they do not factor in util calculations and paying them will not improve scores...deletion is paramount.

[Anonymous]

I did not know that..thank you for including that...I though since they were a charge-off..then if would be something like a collection...is that why if they were sold...they should have a $0 balance...

[fused]

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slyhouse08 wrote:
I did not know that..thank you for including that...I though since they were a charge-off..then if would be something like a collection...is that why if they were sold...they should have a $0 balance...

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Yes, if both the OC (if the OC is reporting the bad account as a derog trade line i.e. charge-off) and the CA are reporting the same debt, only the CA can report a balance and the OC must report a $0 balance.

[Anonymous]

wouldn't you want to wait for the SOL to pass before DVing?