Fixing charged off debt
A few years ago I took a 25k loan which eventually I could not pay back. The debt has been charged off, and occasionally a company sends letters saying that they want their money. Recently I’ve began working a new job that pays very well, so I want to fix all my “credit” wrong doings.
Since the charge offs occurred a few years back and my credit score already took majority of it’s beating, should I focus on settling this charge off first, or last? I am speaking in the sense of which creditors I should put in what order of importance.
Also say I do square off with the collector and all is paid off, is there a way that I can come out on the positive side i.e. getting the charge off removed, or getting all of the negative remarks turned into positives? I know this sounds like wishful thinking, but I always hear rumors of deals you can work out with the collectors but I never know whats true.
This reader question was submitted for site members to answer.
This is your chance to be a hero and help out this person by providing your feedback and answer to the question. Post your response in the comments section below.
If you have a credit or debt question you’d like to ask just use the online form.