Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
mike1252

0 Contributions
0 People Helped
Charge off showing
I have a $313 charge off/write off showing that I was unaware of. Will it make it difference if I go ahead and pay this now?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
2207 Contributions
3947 People Helped

before paying do some homework

first,  How old is the account?

  if it is less than 6 years old start with a "Validation letter"   google it for a template.  The letter is mailed to one of the Credit bureaus.  They will contact the collection agency to validate the account.  They will have to prove that you legally owe the balance and that they have the right to collect it.  If they can not validate the account, they will have to remove it from your report.  About 50-60% of accounts can't be validated. 

Once validated. then you can decide how to proceed.   You can google   "offer and compromise"   "pay to delete"  for info on how to use these options to get that taken care of. 

Good luck

Top Contributor

Reply by
EddyTX

2207 Contributions
3947 People Helped

forgot to mention,  Getting that paid off can help your score a lot.  Getting the derogitory remarks removed can help your score even more. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.