Re: why try to pay charge-offs?
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Posted by Why Chat (209.240.198.61) on September 14, 2002 at 08:41:56:
In Reply to: why try to pay charge-offs? posted by rey on September 14, 2002 at 03:57:45:
If you pay a charge off in full, there is nothing left to resell to another CA. If you SETTLE (pay less than what is owed) then frequently the balance is resold to another ca who MAY illegally "re-age" your account on your credit reports. If you are sued in the next 2 years, and a judgment is obtained, it will impair your ability to purchase a home for 10 years (renewable).
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