DebtClear

Credit Repair Credit Repair

Dispute Strategies

Disputing Charge-Off Records

After 180 days of non-payment, an original creditor usually charges off a delinquent account and records it as a loss on its books. The lender then sells or assigns the uncollectible debt—uncollectible to the original creditor, anyway—to a debt collector who will then try to collect the debt from you.

The original creditor may write the debt off its books, but that does not mean the account is written off your credit file. In fact, a charge-off is considered a serious negative entry on your report—much more serious than, say, a late payment.

Strategies for removing a charge-off from your credit report include:

  1. Check for any inaccurate dates, amounts, or missing information that should be listed. The balance of a charge-off account should be listed as zero. The account must list the charge-off date, the write-off date, the first date of delinquency, and the date of removal.
  2. Ensure account dates are correct, such as the date of the first delinquency and the date the bad credit is expected to be removed from the file.
  3. Request a charge-off statement from the creditor. If they cannot supply a statement, the charge-off is considered to be invalid and must be removed.
> Removing Remarks