chargeoffs

chargeoffs

Ask Creditnet: Is it Worth Paying Off Debt in Collections?

May 9th, 2012 by Joshua Heckathorn

Dear Creditnet: What's the advantage of paying off credit card debt that's still within the statute of limitations but already charged off and sold to a collection agency? If it's not going to help improve my credit scores right away, I'm beginning to think I might be better off just keeping the cash in my own pocket. -Adam from VA

Credit Card Charge-Offs: Can They Be Removed from Credit Reports?

January 20th, 2012 by Joshua Heckathorn
 

 

How Charge-Offs and Collections for the Same Debt Appear on Credit Reports

January 18th, 2012 by Joshua Heckathorn

[credit bureaus You have the dreaded double whammy on your credit reports—a charge-off and collection for the same old debt.  But how did this happen? Frankly, the whole process can be quite confusing to most consumers, which is why I've done my best to break it down into the following six simple steps.  While your situation might be a little bit different, my experience has been that 90% of the time this is exactly how it all plays out.