Monday, January 9, 2012

BAD CREDIT: Paying off chargeoffs, rebuilding credit score..??

One unless you received in writing from the company owning these charge offs that upon payment they will be removed from your credit report, they will remain there for 7 years, thus paying them off did nothing, accept they will be annotated as satisfied. If the others are over 4-5 years old, they are beyond the statute of limitations for collecting. Depends on your state. Even if a bill collector would take you to court, thats all you have to state in order for them not to win judgment against you, and as before will come off record after 7 years.

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