Posted by alanglender, at 02:17AM 05/02/08 :
Should You Pay Off a Charge Off?
Note:
If you have a charge-off on your credit history, all this means is that a creditor gave up on you and turned the debt over to a collections agency. It doesn't mean you no longer owe the debt, it simply means that the creditor has written it off for tax reasons as part of their profit and loss statement; to them, it's normal; to you, it's one of the most damaging items you can have on your credit report.
tags: should
· off
· pay
· charge
groups: in finance