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Question By
RHasanzada

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I have many charge off accounts that have been paid in settlement. When will remarks be removed?

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Good Question

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I hate to be the bearer of bad news but unfortunately, making the payment may not make the account disappear from your credit record. 

The amount of time a paid account stays on your credit report depends on a few factors. If the account is still open, it will stay on your credit report indefinitely (or until it's closed). If the account is closed and has a negative status, it will stay on your credit report for seven years, which is the credit reporting time limit for many negative items. If the account was closed in good standing it will stay about 10 years depending on the credit bureau's policy for deleting closed accounts. I hope this helps!

Reply by
MIRAME800

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I just started to follow my credit score about three weeks ago. My best advise to EVERYONE is to contact the debt collector before paying. why? Because some debt collectors simply "update" the debt on your credit. you need to have them send you a letter in writing via mail or email that you want to "PAY TO DELETE"!! If they don't agreee, them just let them know it's not worth paying at all...

but the truth is, it's better to pay and have it on there than to not pay at all. From what i understand, the new vantage system, doesn't affect your credit score if it's paid in full. that's another topic.. anyways..

It might even be a matter of speaking to different people and maybe even a suppervisor. In my case, I spoke tto the supervisor since he was the only one who could provide the deletion letter. I PAID OFF A $46 CHARGE-OFF DEBT AND MY SCORE JUMPED 53 POINTS AFTER THEY PROMISED TO SEND ME THE DELETION LETTER.

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