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    ttara81's Avatar
    ttara81 Posts: 161, Reputation: 9
    Junior Member
    		  
    #1

    Nov 14, 2007, 12:22 AM
    What's the difference?
    Credit terms are very foreign to me. Please help!

    What do these terms mean?
    1. Charge off
    2. Account closed... is that good?
    3. Transferred/Closed
    4. Purchased by another lender

    Am I correct when I say that if the account was purchased by another lender, then possibly that account and/or delinquency may be on your credit for more than 7 yrs?

    Thanks in advance to all you smart people!
    ttara81's Avatar
    ttara81 Posts: 161, Reputation: 9
    Junior Member
    		  
    #2

    Nov 14, 2007, 12:34 AM
    You please disregard this question... I accidentally posted it twice, but with 2 different topics... don't answer this question please!! I tried to delete it and either I can't, or I don't know the proper way to do it...
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