How is my credit score impacted by paying a charge off?

It is much easier to get paid charge-offs removed than unpaid charge-offs. There is no incentive for the creditor to fight the dispute, since they already have their money. So if you dispute the charge-off, the credit bureaus will send a verification request to the creditor. Most often the creditor will ignore the verification request. After 30 days with no response from the creditor, the credit bureaus will remove the charge-off form your credit bureau.

Unpaid charge offs can be much harder to dispute and remove. Always try to dispute the charge-off with credit bureaus first – often you can get the charge-off removed in the first round of dispute letters. However, it is possible for the creditor to ignore a verification request if the person still owed them money. Nevertheless, it is still worth a shot to dispute it and see what happens.

This article was written by ricardocobos

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. I am a local market expert in southern Wake County in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183