Chargeoff versus collection

Chargeoffs versus collections Chargeoffs COs Chargeoffs affect your score more as they go unpaid, if they are reporting regularly. (If they are not reporting regularly, the algorithm does not know that they are going longer unpaid and cannot penalize further.) So chargeoffs should be settled/paid ASAP, usually, unless it’s a real old one that hasn’t been reporting, then you might think twice. Original creditors do not typically do PFD‘s, although you can always try the Goodwill Saturation Technique (GST) by BrutalBodyShots. (DDG it.) Collections CAs Collections hurt whether they are paid or unpaid, and paying them does not give any points, except on version 9. Every collection must be REMOVED in order to get decent points. Therefore if the original creditor still owns it, have them recall it and pay them after they recall it. If the debt collector owns it arrange a PFD. Always try to negotiate a lower amount. If you can’t get it recalled or a PFD, you can always try to settle it and then GST. When speaking to a debt collector do not acknowledge or reacknowledge your debt, and dont make a payment plan or a partial payment or it will restart the statue of limitations. Make sure whatever amount you set, takes care of the debt in whole. © 2022, MFBirdman7. All rights reserved by Birdman CreditRebels.