Remove Charge Offs

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

When approval does happen you will be forced to pay exuberant interest rates or make a hefty down payment. This is how lenders penalize people when they are incapable of making their payments.

This system does not recognize that catastrophic events occur. When someone is faced with the decision of feeding their family or making a payment, the choice is obvious.

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.

Thus, when an investigation is granted the negative listing is often deleted regardless of accuracy. The difficulty we hear of comes in getting the investigation started.

This happens because the credit bureaus only motive to conduct an investigation is to be compliant to the Fair Credit Reporting Act. The bureaus don't earn any extra money from conducting an investigation and instead spend money that would otherwise be profit.

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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