2006-08-30 12:12:37 · 8 answers · asked by diep d 1 in Business & Finance ➔ Credit
Pay your debts! Then make sure it reported as such.
2006-08-30 12:23:55 · answer #1 · answered by veritas 5 · 0⤊ 0⤋
Lots of bad answers here...so lets start from the beginning.
If the item on your report is accurate, there may not be any way to get it deleted. It will stay there for 7 years, beginning on the day of the delinquency.
There are only 2 ways an item can be removed from your history.
1) the creditor must delete it history. This isn't likely unless you pay the bill off.
2) the creditor fails to respond to an investigation request from the Credit Reporting Agency. This involves some letter writing, and demands to the creditor to validate the debt.
If you want to try this route, see the link before for information and sample letters.
2006-08-30 20:01:34 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Pay it. A chargoff is still a legitimate claim and bad information that they can legally keep on there for 7 years. Charged off merely means they assume you won't pay it and that they wrote it off for income tax purposes. Odds are they've sold it to a collection agency who will also report it as a valid claim and will stalk you if they can find you.
So the same information can show up twice (once the original creditor as a charge off and also as a debt to a collection agency). IF you pay the collection agency, you need to be sure they mark both PAID, and not just one. Get that in writing.
You can dispute it as invalid, and the credit bureaus will go back to the creditor and ask for validation of the debt. Most of the time, they are going to respond and the charge off will remain. Sometimes they don't care and don't respond.
There's no other legal way to get it off, and most of the companies that say they can get it off otherwise, are lying and just take your money.
2006-08-30 19:20:55 · answer #3 · answered by Lori A 6 · 0⤊ 0⤋
I would recommend settling with them. Most companies will offer you a settlement at half of the write off amount.
It takes 7 years for something to clear from you credit report.
2006-08-30 20:09:42 · answer #4 · answered by Joy B 1 · 0⤊ 0⤋
I agree with Studly.
I just wanted to add that you should become aware of the statute of limitations (SOL) in your state.
If you are still within the SOL in your state, and you may be if it's only been 3 years, you could "wake up" the creditor/collector and it could result in them taking some action on the account.
2006-09-01 17:34:14 · answer #5 · answered by echo 7 · 0⤊ 0⤋
1st make sure it is definatley charged off throught the credit card company, then I suggest calling a creditor company like equifax and discussing your options with them. They will definatley help you with all your questions, so far their the best in my opinion, but do a google search if you'd like to find other companies. Good luck
2006-08-30 19:17:48 · answer #6 · answered by dreemcache 2 · 0⤊ 0⤋
contact the creditor to remove this, you will need a good excuse, also check with the credit reporting agencies for more precise info http://ebooks.interkeys.com/money/repair_credit1
2006-09-01 19:44:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Contact each of the 3 major credit bureus and request that it be updated... Experian, TransUnion, and Equifax all offer this by phone and online....
2006-08-30 19:16:22 · answer #8 · answered by AnswerQueen 2 · 0⤊ 0⤋