How to remove a charge-off from a Credit Report?

remove a charge-off from a credit report

How to remove a charge-off from a Credit Report?

If you are looking for an answer on how to remove a charge-off from a credit report, then this one is for you. You can remove a charge-off account from the credit report under any of the following circumstances. Using a special dispute letter, and using the specific dispute reasons.

Using the specific dispute reasons are listed below :

 

 

Unrecognizable Account 

How to remove a charge-off from a credit report if the account is unrecognizable? You can dispute the account if the account in question is one you do not recognize. In this case, you will need to dispute the account as “no knowledge of account”.

 

Fraudulently Opened Account

Are you certain the account is indeed fraudulent, where an identity thief opens an account without your knowledge? Then you will need to file identity theft reports. You will need to file these with the Federal Trade Commission and the local authorities. After which you will need to forward these reports to both the creditor and the credit bureaus. From there you can order to dispute the account as opening a fraudulent account.

 

Fraudulent Charges on Account

Did you incur fraudulent charges on an account you were opening leading it to be late? Then you can dispute the item under the Fair Credit Reporting Act under the provisions afforded to fraud victims. You will need to file the requisite fraud reports, as said in the section above for opening fraudulent accounts. You will be disputing this item as “ incurring fraudulent charges” and would specifically need to point out the fraudulent charges. And then you will need to submit the fraud reports to the credit bureaus and the creditor.

Incorrect Amount, Last Payment dates, Payment history

Removing a charge-off with the incorrect amount, last payment dates, and payment history. If the report of the account or any data pertaining to it is incorrect, then you may dispute the specific part of the account with the credit bureaus. It can include high credit, last payment date, or charge-off amount. This may result in the complete deletion of the account if the information is not verifiable. In the event, that the account is not reporting as a charge-off and simply just showing late payments then you can take this issue up directly with the creditor.

How to remove a charge-off from a credit report if you are an authorized user on the account

In this case, you can dispute the account with the three credit bureaus. There would be a high chance of removal for this type of account. You can dispute the item stating that you are an authorized user on the account so it can be deleted. In addition, it is advisable to call the creditor directly and ask you to have your account be take off as an authorized user.

For Debts That Were Paid Over 7 Years Ago

If you believe the account was last paid over 7 years ago, you can dispute the account under the 7-year statute for credit reporting. By then the credit bureaus will be removing you from the reports. You can dispute the account as “account for over 7 years old, please remove.” Keep in mind the 7-year period starts from the time of the last payment on the account and not from the account opening date.

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