@Red1Blue wrote:Thanks for your input. I am getting better understanding of how the scoring works. Looks like goals are
1. Address the accounts with high balance CO and try to settle for less. 2. Settle Accounts reporting 90 day lates.
I was looking through my CR and some of the accounts are not reporting 90 day lates. Some of the accounts though they are charged off they are reporting $0 balance. I guess attempt first to CO Account with High Balance and reporting Lates. That allows me to solve the Util problem and also 90 Day lates problem and I should start seeing gains in the scores as they start aging. Also keep any eye on other CO accounts to make sure they do not start reporting 90 day lates.
Charged-off accounts reporting a $0 balance (that you have not paid) were probably sold to a collection agency. The creditor is required to update the balance to $0 when they sell a debt.
As an aside -- i always suggest folks try to focus more on getting their reports as clean as possible and not so much on scores. Your scores will rise with time - obsessing over which action will have the best scoring benefit is kind of pointless when you still have multiple derogatories.
Put simply: clearing the outstanding debt and removing as many negative items as possible is what's needed.
