Items closed with a balance
Date: Tue, 02/20/2018 - 19:00
Good day.
If an account has been closed and listed as: Charged off as bad debt Profit and loss write-off. Does it affect my credit score in a negative way. If so , since it still shows a balance, could I offer them a settlement, and if so will that affect my credit score in a negative way?
If an account has been closed and listed as: Charged off as bad debt Profit and loss write-off. Does it affect my credit score in a negative way. If so , since it still shows a balance, could I offer them a settlement, and if so will that affect my credit score in a negative way?
A charged-off account drops
A charged-off account drops your credit score by 50 - 100 points.
You can try to settle this debt but your credit score won't increase instantly.
It can affect your credit
It can affect your credit score. If your income is fair, then start saving money and opt for settlement program.
Yes, your credit score will
Yes, your credit score will drop. You can settle your debts which will be a positive point for you.
A charged-off account will
A charged-off account will affect your credit score by 50 - 100 points. You can opt for settlement but your credit score will increase gradually.