A charge-off will affect your credit score up to 100 points for seven (7) years (unless removed). Charged off accounts are considered "uncollectable" and sold to collection agencies. Unfortunately, paying off these accounts will not help your credit (in fact, it could hurt it).
Get Your Charge Offs Professionally Removed
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (866-271-3550) or setup a consultation with them. They also happen to have incredible customer service.