Paid all charge off's and delinquent accounts

[BANESBOX]

Before I found this website or actually researched the effect of my actions, I paid every charge off account in full on my credit reports. 3 were OC and 4 were CA totaling about 5 thousand bucks.

Before I paid the charge off my FICO score was actually 680, but as soon as those accounts were paid it dropped to 530.

Everything lists "Paid Charge Off" and are still negative.

I have read about dispute letters, validation letters, Lexington Law and everything else you can think of. My question is what is the next step to remove these negative accounts from all three credit reports permanently?

Or am I just stuck for 7 years?

Thanks,
Bane

[chane]

Yea, paying them was definitely a big mistake in so many ways. What you need to do now is start here:

Basic Step by Step Beginner's Guide to Credit Repair

or here:

Lexington Law

[BANESBOX]

Already have a Lexington Law account. Just signed up as soon as I posted this topic.

Call me old fasion but I believe we should pay the money we owe. Despite if it is late or not.

I mean from a techincal point, when the bank loan officer asks whats up with these charge off's, I can say, "Well, they are paid arent they?"

[chane]

I agree that people should pay their debt if it is there's. However, the credit system is ass backwards. By paying off the debt it hurts your credit scores severely by re-aging the accounts and making it look like the negatives just happened. It's a big error in FICOs scoring algorithm, but it still exists nonetheless. They punish you for paying off old accounts and that is wrong. And that is why I encourage people not to pay old debt and to just let it fall of under their state's SOL.

In a legitimate system, I would never encourage people do that. But, the credit system is definitely not legit. In fact, the whole system is corrupt. I write about in the article below and there are many more resources about it online.

The Credit Game

[BANESBOX]

Thanks for the advice Chane. The good news for me personally is I have absolutly no debt except for a car payment and 2 small credit cards. The bad news, even though all my old bad debt is paid, my credit still sucks.