Re: Account Charge Off

Posted by TDB (12.150.149.176) on September 04, 2002 at 01:51:39:

In Reply to: Re: Account Charge Off posted by Why Chat on September 03, 2002 at 13:57:06:

Honey,

If it is scheduled to come off in 2003, leave it alone. You have admitted to owning the debt and the right thing to do was to make an effort to pay. Sometimes, when you tackle new information so close to the drop date, you may cause additional trouble. A credit agency generally leaves an account on your report for up to 7 years for accounts and 10 with bankruptcy, but the institution can go back and attempt to put it on there for another years and in some cases get away with it. You may come out better writing to a future creditor a letter of explanation, a copy of the receipt, and let them know that it was paid by settlement in an attempt to show responsibility and that you just didn't ditch the debt completely.

I am not an attorney and this is just for suggestive purposes only.

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