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credit card debt
if a credit card has been charged off should you still make payments on it or work on other cards that haven't been charged off?
Asked by
booboo7
1 year ago
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It depends on long ago it's been on chargeoff. Follow this link: http://www.creditkarma.com/question/statute-of-limitations-list-for-all-usa-states Find your state and you'll know if you need to pay it off or not. If it was charged off within a year, you'll want to pay it off. To save money in doing so, negotiate an amount to give them so it can be removed from your file faster. NEVER make payment arrangements when a bill goes to collections and it's on your credit report. You simply want to pay it off in full. If you owe $1,000 any creditor will gladly accept $100 - $150 to settle the whole debt. I've done it a few times. I also had aa debt removed from my credit report a few days before I was going to send $600 to pay off a $1,466 telecom debt. The Statute of Limitations ran out for them and they couldn't collect the money from me at all, even though I agreed. It's been over 14 months now. Done Deal. Do all you can to make sure you don't get put in collections because it will damage your credit scores.
afili8ter 1 year ago