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Junior Member
What is the name of your state?indiana

I've been reading different opions on this, if the debt was charged off over 3 years and is in collections does it effect your credit rating less then if you would start paying on now. I've heard once you contact the collections it marks it as current and brings your rating down even lower.

Debt Guy

Senior Member
Personally, I think the more important issue is whether or not you want to get from under the Sword of Damocles that hangs over your head. You live in a state with a long statute of limitations. Do you want to be sued and then be forced to deal with a judgment creditor?

As to your specific question -- I've heard both ways. Call Fair Isaac and ask. I know that paying a charge off does not improve your score. I can't see how it would make your score worse.

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