Removing chargeoffs and Collections

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Replied by cce on topic Re: Removing chargeoffs and Collections

Great input BungalowMo and welcome to FG!
9 years 2 months ago #1

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Replied by BungalowMo on topic Re: Removing chargeoffs and Collections

I understand that it's my responsibility to pay but I just wanna know if it is removed will it increase the score? They won't delete it if I dont request that they do? I plan on paying them all off but one that I can't afford at this time


Yes! It will increase your score. I know it's said that old baddies don't hurt too bad, but I had a paid collection get dropped only 3 months early & that bumped my TU by 29 points!

Send a letter & ask for a PFD with payment arrangements. I've never tried it, but everyone out there today wants their cash! Tell them you want to pay, and $XXX per month for 10 (or whatever) months is what you can reasonably do. Make sure they know you're remorseful! (I did bad! I so sorry!) And you want to make it right.

Butter 'em up for the PFD! Good luck!
9 years 2 months ago #2

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Replied by BungalowMo on topic Re: Removing chargeoffs and Collections

Does paying them off increase your credit score?


No...it just looks better on a manual review. Paid or unpaid CO both hurt your FICO the same degree.
9 years 2 months ago #3

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Replied by BungalowMo on topic Re: Removing chargeoffs and Collections

If you don't pay them or try to negotiate the charge offs directly with the creditor, they will stay there for 7 years.

I would look at your most recent ones first since they will stay with you the longest. You have to pay to get this removed. First, I would call your creditor, not the collection agency, and try to get this settled in writing. The collector will likely have no control over this.

Once you get it in writing that they will remove the charge off from your reports, then pay up.



No one removes the CO before getting the $$ upfront. Depending on who it is, I'd send a PFD letter & ask for answer in writing, on their letterhead. Then send a MO. No CC payment or personal check. Ever.
9 years 2 months ago #4

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Replied by smcc on topic Re: Removing chargeoffs and Collections

If you pay it off and the creditor agrees to not report it anymore, then yes, it will increase your credit score for the simple fact that you have one less negative item on your credit report.

Even if they don't agree to take it off, it shows future lenders, that although, it was charged off, you still took the "moral" responsibility and paid it off. Some will wait the amount of time and let it fall off their records, others will pay it off based on its age, totally up to you.

Note: if you do decide to pay it off, it brings the charge up to a current date which means it will be on your report even longer............
9 years 2 months ago #5

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Replied by ais249346 on topic Re: Removing chargeoffs and Collections

I understand that it's my responsibility to pay but I just wanna know if it is removed will it increase the score? They won't delete it if I dont request that they do? I plan on paying them all off but one that I can't afford at this time
9 years 2 months ago #6

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Replied by Joeyman on topic Re: Removing chargeoffs and Collections

Doesing paying them off increase your credit score?


Wether it does or not, you should pay them off. To be honest, it's your moral responsibility to payback what you borrowed. :shocked:
9 years 2 months ago #7

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Replied by ais249346 on topic Re: Removing chargeoffs and Collections

Doesing paying them off increase your credit score?
9 years 2 months ago #8

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Replied by Finance Globe on topic Re: Removing chargeoffs and Collections

If you don't pay them or try to negotiate the charge offs directly with the creditor, they will stay there for 7 years.

I would look at your most recent ones first since they will stay with you the longest. You have to pay to get this removed. First, I would call your creditor, not the collection agency, and try to get this settled in writing. The collector will likely have no control over this.

Once you get it in writing that they will remove the charge off from your reports, then pay up.
9 years 3 months ago #9

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How do I go about getting chargeoffs and collections removed from my credit. I don't want to pay them and they leave them up there. How should I go about this? I have about three and would like the get them removed. Also some are close to being up there for 7 years. Should I pay them also or let them go.
9 years 3 months ago #10

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