Paying of Charged Off Debts

iVillage Member
Registered: 05-19-2009
Paying of Charged Off Debts
Tue, 05-19-2009 - 4:12pm

Hello there iVillage!

So I about to start a job where the money is such where I can begin paying off charged off debts that I accrued when I was younger (dumber) and living way beyond my means. I have been trying to research the best way to go about this, and want to know what my options are. I have read that you should submit in writing to the creditor your desire to pay off the debt and in return have them remove the entry from your credit report or even pay a percentage and have them update the debt as paid in full.

I really want to do this the right

iVillage Member
Registered: 11-17-2007
Fri, 05-29-2009 - 12:59am

This is what I have heard on TV how to handle charged off bills or collection accounts.

First you need to save up some money. As much as you can.

iVillage Member
Registered: 03-17-2003
Fri, 05-29-2009 - 10:46am

My 3 cents:


iVillage Member
Registered: 02-19-2003
Mon, 06-08-2009 - 11:29am

Hi there,
I just wanted to let you know that Carmen Wong Ulrich from CNBC's On the Money has answered your question on her show. You can find the video right here at iVillage.
I hope she helps answer your question.