Remove Charge Off From Credit Report History

Do you need to urgently remove charge off from credit report history? Creditors view charge offs as a blatant indication that a person has not been responsible with their finances in the past and cannot be relied on to fulfill their financial obligations in the future.

Creditors will typically charge off any debt if there hasn’t been any payment on an account for at least 180 days. However, having a debt sent to charge off status does not mean the borrower is no longer responsible for the debt. The creditor will continue their collection efforts either in-house or through a third-party collection agency.

Charge-offs find their way onto credit reports of even the most creditworthy people.

Whether you owe $100 or hundreds of thousands of dollars on a credit account, after the 180 days has been reached, your creditor can charge off the debt and report it to all three major credit bureaus.

A Charge Off conveys a message to current and potential creditors that it is improbable to get any money back which they loaned to you. Current creditors can react by significantly increasing your interest rate on your existing balances, costing you much more money over the term of your loans. This high APR equates to much higher costs to you if you qualify at all. Potential creditors are much more prone to decline a loan application with Charge Offs on your credit report.

Having an inaccurately reported Charge Off on your credit reports does not mean you must live with it for seven years. Through investigation and respectful communication with creditors and credit bureaus, it’s possible to improve the status of a dubious Charge Off or altogether get it removed from your credit reports.

Don’t allow questionable charge offs on your credit report to keep you from achieving the life you desire.

It is feasible to work directly with your creditors to negotiate the elimination or correction of an erroneous Charge Off. In exchange for resolving the charged-off debt, creditors are often willing to cease reporting the account or report the status as “paid in full.” Where a Charge Off is inaccurately reported on your credit reports, you can legally dispute it directly with all of the credit bureaus.

It may be the case that your charge offs are inaccurate and misleading. For example, even the most conscientious consumer can neglect to tell a creditor their updated address when they move. Consumers may not even be aware that they have a charged-off delinquent bill until their loan application is declined or their credit card interest rates increase.

Charge Offs and delinquent payments can drastically decrease your credit score. Let CreditStryke help.

CreditStryke has helped thousands of clients remove unverifiable, untimely, misleading, or inaccurate charge offs from their credit reports. Through compelling credit bureaus disputes, CreditStryke’s clients saw over 1,000,000 removals such as Charge Offs in 2018. CreditStryke has helped remove numerous other inaccurate accounts related to Charge Offs such as late payments and collection accounts.