what's the difference?

ttara81 · #1 Nov 13, 2007, 10:22 PM

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 · Nov 13, 2007, 10:34 PM

ya'll 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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