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!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
Paying off charge off account worth it or not ?
Hello everyone i got a few questions regarding my credit! I was a 18 year old idiot who thought credit cards are basically like free money. I opened up 6 cards and manage to rack up 6 collections which later turned into 4 change offs. Now this accounts are close to 4 years old and i have no idea if i should pay them off. I currently have 2 collections that are still opened. At this point i have no idea what actions to take pay off the opened collections and leave the charge offs till they come off in three years? or take care of everything and try to pay all the things off?. I want to be able to buy or lease a new car without having a co signer. I currently do have a car loan with a co signer that is being paid on time and I just opened up a secured credit card that hopefully will help me get some points up. I heard that paying off charge offs might hurt you more then not paying them is that true?

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

View your scores and reports anytime.


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.