Joe DiMaggio was one of the best all-round baseball players in the history of the game, helping the New York Yankees to nine World Series titles.
The creditor is the one who reported the charge-off, and so it is he who can remove it once the debt gets paid. If you want to remove the charge-off on credit report, you will have to talk to the original creditor about the payments and request that he pulls back the account from the collection agency. However, this will depend on whether or not the account has been sold off.
Dear TYC, Paying a closed or charged off account will not typically result in immediate improvement to your credit scores, but can help improve your scores over time. If the creditor has not sold or transferred the debt to a collection agency, the charged off account will still report the balance owed. Once the balance is paid, the account status will be updated to show âPaid Charge offâ and the balance will be updated to zero. Often, when an account is written or charged off, the creditor will sell the debt to a collection agency and the balance on the original account will be updated to zero. If so, you no longer owe the balance to the original creditor, but to the collection agency.