Ive paid the debt but still have a “charge off”?

Ive been making payments to fully pay off a debt with a cc company for almost a year now and have recently completed my payment obligations. I have never heard of a “charge off” until trying to apply for a small loan to help rebuild, what i thought, was a clean slate on my credit report, only to find out I have a charge off.

I understand what a charge off is.Im just wondering if this negative mark on my credit report is going to be on it for up to 7 years what the heck is the use of paying all the money that i have? I was completely unaware of a charge off and was under the impression when you pay off the money that you owe your credit would improve…ya i know it wont fix it back to normal cause creditors can see the history of my credit…im sure you get my point…anyway anyone have advice as to what to do next?

Register New Account
Reset Password