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Charge off

I have 2 accounts that are charged off(closed). Why are they affecting my score? I also have an account that I have paid off, and they’re holing that against me. Why?

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Level 15

Charge off

A charge-off has a negative impact on your credit score.

 

See https://www.experian.com/blogs/ask-experian/what-is-a-charge-off/

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2 Replies
Level 15

Charge off

A charge-off has a negative impact on your credit score.

 

See https://www.experian.com/blogs/ask-experian/what-is-a-charge-off/

View solution in original post

Level 15

Charge off

Closed accounts remain on your credit report for at least 7 years.  A charge-off indicates that, while the account is closed, you paid less than the full amount owed, and that will impact your score for 7 years. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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