Paying charge-offs does not re-age the accounts

Posted by Marc (66.232.37.13) on May 24, 2004 at 12:46:57:

In Reply to: Re: I HAVE BAD CREDIT, HOW DO I RID MY SELF OF THE HISTORY posted by Robert on May 24, 2004 at 11:06:28:

But I agree, it doesn't help much, since derogatory information stays for 7 years, regardless if it's paid or not. A charge off from 1997 will show as a charge off, (whether the balance is $0 or $50,000) and will disappear this year regardless of when it was paid. Since a charge-off is derogatory information, per the FCRA it can only remain for 7 years of the charge off date, regardless if you ever made payments to collections.

If you find aany charge offs on your CRAs that are more than 7 years old, they have no problem about removing them.

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