How bad effects charge off accounts the credit score?

Answer 1

That is the worst thing, you $crewed someone, much worse then being late making payments.

I would never hire or rent to anyone with charge offs, it shows really low ethics.

Answer 2

Charge offs are a bad thing to have on a credit score, it shows that the lending or fiance company has given up on ever seeing that money and is taking it as a loss. Depending on how long ago the charge off is it may or may not effect what your trying to do.

Answer 3

Well getting charged off isn't a good thing because it means you weren't paying your financial obligation, but the more important thing is what happened later.

In other words, it will initially drop your credit score because you're more of a financial risk. But if you begin to demonstrate that you've learned from this, and are beginning to improve yourself, then your credit score will start improving.

Answer 4

It all depends on who is looking at it. The beauty is always in the eye of the beholder.

It generally speaking isn't good. Its much better to pay your bills and to use proper english when asking questions.