What can you do to repair your credit if you have 2 credit cards that you took out in 2000 that you never paid and are charged off?

Answer

If the accounts are charged off, your credit report is going to reflect 'charged-off'. This in itself will lower your credit score.

You can pay the charged off amount which will most likely show, on your credit report, that the account is a 'paid charge off'.

A creditor can try and collect on the debt for up to seven years. It may be to your best advantage to pay off the debt to begin the improvement process.

Long-term, responsible credit behavior is the most effective way to improve future scores. Pay bills on time, lower blaances and use credit wisely to improve your credit score over time.

Answer

THE ANSWER TO THIS QUESTION IS ACCURATE FROM THE PERSON WHO ANSWERED THIS BEFORE ME. BUT, NOW LOOK AT IT IN A LENDERS PROSPECTIVE. WHEN YOU HAVE A CHARGE OFF ON YOUR REPORT THAT SHOWS THE YEAR "2000", THIS CHARGE OFF WILL AFFECT YOUR CREDIT FOR SEVEN YEARS FROM THE DATE IS WAS REPORTED. THE POSITIVE THING IS YOU DO NOT HAVE TO WORRY ABOUT PAYING THIS BILL OFF IF YOU ARE INTERESTED IN A RESEDENTIAL LOAN. FOR YOUR OWN BENEFIT AND HIGHER SCORE IT WOULD BE IN YOUR BEST INTEREST WHEN YOU HAVE THE FUNDS ,TO PAY THIS OFF. FOR A LOAN THE LENDER WILL ONLY LOOK AT THE MOST RECENT COLLECTIONS OF THIS YEAR (2006) AND REQUEST FOR THEM TO BE PAID OFF BEFORE PROVIDING A LOAN. FOR MORE INFORMATION CALL WANDA AT: 703-564-3776, OR (EMAIL) ACEVEDO_WANDA@YAHOO.COM. GOOD LUCK!!

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