Is it better to pay a charge off or collection account?
I would pay the collection account. Try not to let the account get that far that it becomes a charge off. It would be better to pay them all on time, of course. They both do damage to your credit. The charge off is normally paid less than the original charge. After paying, they both will show paid on your credit file if the companies filed them correctly. Make sure you have the company mail you a letter of Debt satifaction with a statement notifying the credit bureau. This is your responsibility to make sure it happens. Good luck..
