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This may be a dumb question...


TNJ2003
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I understand that both judgements and charge-offs are a negative thing to have on your credit report.

But is a charge-off viewed equally as negative as a judgement?

Has anyone ever been screwed while seeking employment because they've had a couple of charge off's?

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<blockquote>Originally posted by morrow

TNJ2003....that is the dumbest question I have ever heard!! Just kidding, welcome!

Both judgements and charge-offs are bad, yes. As for one being worse than the other, I dont know.

</blockquote>

Okay, here's another dumb question for you... ;)

I recently settled to accounts with CA's, the only thing I negotiated was the payoff amount. How will this be reported on my credit report?

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<blockquote>Originally posted by morrow

What do you mean? You settled with your accounts in collections?

And you want to know how its going to look on your CR? Is that right?

Have you disputed the collections with the CRA yet?

</blockquote>

Both accounts I settled were charged off.

I negotiated payments with the CA, one for 30% and the other at 50%.

I'm going to dispute these charge offs on my credit report but not right away. I want to give it a little bit of time, hopefully they (the CA and the creditor) will have forgotten about me and the CRA will delete it from my CR.

your thoughts?

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Hindsight being 20/20...

I think most with this experience (me only a reader) would have advised you to negotiate that they delete the entry or show them totally positive in return for paying them off.

I believe now they'll show as paid charge-offs which can still be negative, depending on age (>2yrs. probably not as bad, but realize they will "re-age" the account to date of pay-off and stay on 7 more years !).

Then again, none of this necessarily prevents you from disputing them off, I'm sure some experts here can help you with that ! :)

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A judgement against you is way worse than a charge-off. That means they've taken you to court and won. A charge-off is ALWAYS derogatory, whether paid, settled or unpaid. Alwasy negotioate last after everything has been tried and ALWAYS negotiate for complete deletion.

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Will it really reage if I pay a charge off?

I have 2 that are from 99. I was thinking about trying to make a settlement with. If I can't get them to delete should I just not pay then.

And also... Is it really possible to get them to change to paid as agreed.

Can I try to ofer settlement on the price and deletion or paid as agreed, or should I just do one or the other?

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<blockquote>Originally posted by headache

Will it really reage if I pay a charge off?

</blockquote>

Reage?? No absolutely not- who said that? Paying off an account DOES NOT extend the 7 year reporting period.

<blockquote>Originally posted by headache

I have 2 that are from 99. I was thinking about trying to make a settlement with. If I can't get them to delete should I just not pay then.

</blockquote>

Would not do this until you've gone through ALL the steps of disputes and validation/incorrect reporting letters. No paying off an account will not help a charge off or collection. Do not give up and cave in just because you run into roadblocks, persistence and education will get you VERY FAR and if you pay it off now- it'll be so much harder to have it removed in a near future.

<blockquote>Originally posted by headache

And also... Is it really possible to get them to change to paid as agreed.

</blockquote>

Yea it's possible, it's also possible that I'll lose 10 lbs by tomorrow but it's not very likely....;) The FCRA doesn't require anyone to report anything, it does state though that if they chose to report anything, it has to be accurate and complete. If they tell you they can't remove anything because the law states they have to report it- they're full of ****. They don't have to report anything.

<blockquote>Originally posted by headache

Can I try to ofer settlement on the price and deletion or paid as agreed, or should I just do one or the other?

</blockquote>

I don't know how long you've been doing your credit repair but you're fairly new on the board. I think it's a bit too early in the game for you to be doing settlements at this point because I don't think you've gone thru all the steps. If I'm wrong, please correct me but otherwise, I'd stick around here and keep doing what you're doing.

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yes I'm fairly new, been at it for 2 months now. The 2 I have left are charge offs from 99 for small amounts, $202 and $309. I disputed as not mine and came back verified so i guess now I should redispute as wrong date, ect...??? :confused:

These 2 and one CA is all i have left, the CA I have sent validation letter to and all they sent me was their computer print out and a note saying the OC (electric company) was looking for the original contract. Now they have 4 more days before the 30 days and I will be sending another letter. So maybe i can get them off too!!

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<blockquote>Originally posted by headache

yes I'm fairly new, been at it for 2 months now. The 2 I have left are charge offs from 99 for small amounts, $202 and $309. I disputed as not mine and came back verified so i guess now I should redispute as wrong date, ect...??? :confused:

</blockquote>

Actually you should do simultaneous disputing now, send off a letter CMRRR to the OC and inform them that they are reporting incorrect information, you want proof blah blah. Track the letter and when you know they have it, dispute again with the CRA using something else. At this point, the OC cannot verify the CRA dispute without the notice that the account is in dispute (just like the FDCPA states, the FCRA states the same) This will most likely do one of two things, either they will not respond to the CRA dispute hence it'll be removed or they will reposond but not include the notice (most of the time they will not note this) and then you have them on a violation to create a bit of leverage.

<blockquote>Originally posted by headache

These 2 and one CA is all i have left, the CA I have sent validation letter to and all they sent me was their computer print out and a note saying the OC (electric company) was looking for the original contract. Now they have 4 more days before the 30 days and I will be sending another letter. So maybe i can get them off too!!

</blockquote>

Clearly this is not validation, you should do the same as I stated above with the simultanoue dispute/DV. When you send off your next letter, be sure to track it and launch a new dispute w. the CRA.

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