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Looking for advice and clarity on paying a 6 year old charge-off account. The debt has not been sold or sent to collections. Obviously, I should pay the debt if I’m able. I’m in a spot that I may be able to pay it off, especially if the creditor is willing to settle. My end goal is to clean up my credit report as quick as possible.
Will the debt still fall off next year when it hits the 7 year mark? Will my credit score take a negative hit for settling instead of paying in full? Currently I’m between 650-700, but recent credit inquires cite this charge off as negative missed payment history. Current (active) accounts have no missing payments for the last 5 years.
What’s my best move here?
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- 1 year ago
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- reddit.com/r/DebtAdvice/...