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Can someone tell me if I still have a "charge-off" on my credit report? |
I owed $200 on a clothing store credit card. I just forgot about it and never paid it. They ended up selling my debt to a collector, who called me. I paid the collector in Jan. On my credit report, the acct# shows up as "charge-off." I have the same acct# show up with the collections agency, showing as paid. So do I have a "charge-off" or not? I don't even know what that is, except it's bad. When will these go away, or do they? What can I do if it adversly affects my credit still? A charge-off is considered to be "written off as uncollectable." A major reason for this involves taxes. However, the debt remains valid, is subject to collection and usually sold or assigned to a collections agency. It's showing on your account as a paid charge off. It's still damaging to your credit and will remain on your credit report for 7 years. You can dispute the accounts and any other negative accounts with the credit bureaus. Source(s): Sample Dispute Letters: http://aaacreditguide.com/dispute-letter... Introduction to Credit Repair: http://aaacreditguide.com/forums/beginne... You need to dispute that item on your credit report. YOu need to dispute as paid in full. Make sure you have kept your receipt or some confirmation that the debt was paid in full. The negative credit will still show on your report for 7 years, however it will more favorable if it shows paid. the charge off will remain for 7 years, But the good part is, Is that it says paid........ |
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