Charged Off Accounts
Unpaid charged off accounts, collection accounts or an auto repossession can update and report every month and continue to suppress your credit scores. It is possible to challenge these accounts for accuracy with the credit reporting agencies; however, just know that if they are removed from your credit reports that there is a good chance they could return in the future. As well, if they are verified (by the collection company or creditor) they will also remain on the credit report.
We highly recommend that you pay this type of account (settle for a lesser amount if possible). This can help increase the chance that it will not return to the credit report if removed. The credit scoring model does not care whether you pay the account in full or settle for a lesser amount.