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jesi89

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Is it possible to get rid of a charge off, even after your debt is sold to a collection company?
I'm 26 years old, 2014 was my worse year, recent graduate with no luck of finding a job, baby sitting for a few bucks a week, and with no ways of affording to pay my credit card debt. I had 4 credit cards which i pretty munch ended maxing out. two of these credit cards was charged off and sent to a collection company. the other two i'm still making payments since i got a job 6 months ago. One of the credit cards was for $1800, this debt was sold to collection company. They gave me what I thought to be an amazing offer, $600 with a due date. after the due date i will have to pay the whole amount to them. I jumped to it and since i was able to pay the $600, i called and payed it. Not sure if this was a good idea. Maybe i should have called my original lender and make an agreement with them. The second card, is for $1000.00 , I have contacted the collection company since they never tried to reach me, I knew this card was charged off, but didn't know who the lender sold my debt to, but i ended up finding out. they offered me to make monthly payments until my debt was paid. I made the first payments a few days ago. But as i'm reading about credit score and trying to put my finances together, i don't know if i should contact my original lender and pay this debt to them instead. I will be happy if i can get rid of at least one charged off. I'm trying to go back to school and perhaps even buy my first card but i'm afraid i will get denied because of my credit history. Before 2014, i was never late in my payments. In fact my credit was nearly perfect, but at the time, i wasn't mature enough to understand how it was going to affect me in the future not being able to pay my debt, which i consider not to be a lot. any suggestions, thoughts?

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In most cases, it is extremely hard to get a charge off removed from your credit reports. It is usually more attainable to get collections removed that accompany the charge off via "pay for delete offer".  That is too late for you though since you've already paid the one, but it may be an option if you have the full amount to pay the second one. Usually when it comes to credit card debt, the original creditor will not accept payment once it is sold to a collection company. For other debt that ends up with a collection company such as utility bills, medical bills, etc, sometimes the original creditor will pull the debt back from collections and accept payment, but this doesn't happen too often with credit card debt. You really should further your knowledge by extensive reading on all of this stuff before proceeding any further. Keep making your payments that you've agreed to in the meantime. With the information that you've provided I really do not see any remedy to help you, but that does not mean that one does not exist. Keep doing research about your situation and remember that even when you hit a dead end of removing negative information from your reports, there are still plenty of things that you can do to improve your credit profile/scores.

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