Hello,

My question is how will paying charge offs that are on my credit report affect my credit score? Some of these charge offs are as old as four years. I would like to know if paying them off or settling worth it at this point, since it has been so long. If paying them off will increase my credit score, how long after making the payment before I will see the increase in my score? Thanks for all response in advance.

Depends on the age of the debt also don’t pay it completely off without an agreement with the company that they will delete the account from your credit reports. If you pay off the accounts without an agreement it will reflect negatively on your credit report for up to 7 years.

my sister made the mistake of doing that through consumer credit counseling. All her accounts have 0 balance but her FICO is still low because the accounts show that #1 – she was in a debt management program which is a RED FLAG, and #2 – they are updated as account settled or something like that. So it’s still a negative account. You need the accounts either REMOVED or shown as “Paid as Agreed”ю

you can also send the creditors on the credit report a letter basically saying, this is X number of years old, would you please remove? And usually if it is 4 years or older, they will remove it, because they don’t have the info on it any longer.

Credit score