should i pay old charge off accounts that going to drop off my credit file in 2months before applying for a?
mortage loan?
Answers (2)
Noooooo. If this has been on your account for 7 years and is about to drop off, do not, I repeat do not pay this off. If paid, this debt will update to the last payment activity made on the account and will actually stay on your credit for an additional 7 years.
FIRST ANSWER
It is always a good idea to get your credit as good as possbile before applying for a loan. I would talk with the mortgage professional you will be using and see what their professional advice is on this situation.
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