5 Charge Off’s

5 Charge Off’s5 Charge Off’s
AngeloHix asked 5 years ago

When I was 18 I did the stupid thing and signed up for all the credit card offers in the mail. I started trying to rebuild my credit in December 2014 and just signed up this month for MyFico instead of FAKO scores. I confirmed 5 charge offs.

 

Capital One CC Charge Off reporting a ZERO balance last activity 10/2011..credit limit $ 750

Capital One CC Charge Off reporting a ZERO balance last activity 10/2011..credit limit $ 500

Chase CC Charge Off reporting a $ 794 balance last activity 10/2011

Bank of America Charge Off reporting a balance of $ 1411 last activity 10/2011

Florida Credit Union Line of Credit Charge Off reporting a $ 49 balance last activity 01/2012

 

As you can see there was a change in income in 10/2011 and therefore I stopped paying all my credit cards. I never cared about my credit until recently when I realized how bad it is and the interest rates I am getting on vehicles.

 

The SOL in FL is 5 years so I am 16 months out on most of these. Should I wait the 16 months and send PFD’s for less than owed or should I settle these ASAP. I have been offered settlement of less than 50% on 4 of these which I can afford but I cannot afford to PIF right now. All 5 are currently reporting on these to the BIG 3 as well. My question is, What option will get my credit up fastest?

 

Thanks, FB

 

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