2006-08-15 11:46:18 · 4 answers · asked by dylanfashions 1 in Business & Finance ➔ Credit
unfortunately, even if you pay a charge-off, it will still remain on your credit report for several years.
you can try to talk to the collection agency, who can document that you paid your charge-off, and maybe that letter can be attached to any applications you fill out.
2006-08-15 11:53:27 · answer #1 · answered by Karen H 3 · 2⤊ 0⤋
Depending on the age of the charge-off and your recent history, the payoff could decrease your score or totally reverse the effects of the charge-off. Without more information, there is no way to tell. Anyone who gives you a point range is being overly simplistic.
2006-08-15 20:46:51 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
pay off will increase your score
charge off will decrease your score
depending on either one, can be anywhere from 30-70 increase or decrease.
2006-08-15 18:52:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
sometimes it can actually hurt your score temporarily as you are activating an old account and it will report like it's recent.
2006-08-15 18:52:23 · answer #4 · answered by slow_play69 3 · 0⤊ 0⤋