Charge Offs Worse than Bankruptcy on Credit Reports?

Posted by Last Dime (198.4.94.227) on March 21, 2003 at 01:31:59:

A representative of a credit card issuer told me on the phone that allowing a charge off of my account to take place results in an "R9" on my credit reports. She told me that, if I am thinking of filing for bankruptcy, I should do it immediately BEFORE letting the account go to charge off. According to her, the "R9" will stay on the report longer, and be a problem for me longer, than even the bankruptcy filing. What do you know about that? Is she right?

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