Can a creditor reopen an account once it has been reported to the credit agencies as a charge off?

Most creditors will say no. What can be done: 1. the creditor can change the rating on the account if you have proof that it was paid on time with the borrower getting a letter stating that they did just that. Follow up with the 3 credit reporting companies to make sure this is done.

2. the creditor can start a whole new account--that will allow you to pay this one on time, giving you a 2nd chance.

KEEP ANY LETTER YOU GET THAT CHANGES YOUR REPORT AS THE POSSIBILITY THAT YOU WILL NEED IT AGAIN IS VERY HIGH!!! On a charged off account, most corrections have to be done by hand--alot of times this is not done (for whatever reason) and your letter is the only proof of what was done.