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Delete Charge Off

Having a charge off on your credit file will negatively impact your score. This will often prevent you from being approved for new credit.

On occasions when you do get approved, you will pay much higher interest rates or have to make a large down payment. This is the penalty the credit system imposes on people when they can not pay their debts.

Unfortunately the system doesn't factor in that sometimes life just happens and some things are beyond our control. Often good people are faced with the choice of eating or paying a bill.

Credit bureaus have caused a false belief that when a charge off happens there is no recourse for the individual. That person will have to pay the high interest rates and large deposits for 7 or more years. This is not true.

The FCRA or Fair Credit Reporting Act states that a credit bureau must remove a listing that is inaccurate of can not be verified. Lenders will rarely spend the time or money to verify an old debt.

Regardless of the veracity of the listing it is typically removed when an investigation occurs. However complications happen in the initial stage of requesting the investigation.

This is because credit bureaus do not create extra income from investigations and instead spend money out of their own pocket. Their only reason to conduct an investigation is to obey legislation.

Credit bureaus are notorious for using stall tactics, this is done to discourage and frustrate the individual. The goal of the credit bureaus is to force the individual into giving up on the dispute process. Many people have frequently found it more effective to hire a professional firm to deal with the credit bureaus on their behalf.

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To learn more about removing a charge off visit us, or to recieve a free credit repair letter to start the dispute process yourself.

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