Removing a Charge-off From Your Credit Report
Having charge-offs on your credit report can dramaticly impact your credit scores. If you have them on your credit report, more than likely you will be declined for most loans. Getting a charge off removed from your credit score can make the difference between qualifying for a loan for a house or car, and not qualifying for financing of any kind.
What is a Charge-off?
A charge-off occurs when you are seriously delinquent in paying an account. Typically, an item is only listed as a charge-off on a credit report once it’s over 180 days late. In simple terms, when one occurs, your creditor lists the account as not being collectable. It is one of the worst items you can have appear on your credit report and it can have long-lasting implications if precautions are not taken to remove it.
Creditors list bad debts owed as a charge-off primarily for tax reasons, so the amounts owed can be counted as a loss and tax write off for them. Although your creditors consider the item a loss for tax purposes, they still expect the debt to be paid off completely. If you have a charge-off appear on your credit report, creditors can still try to collect on the debt. Oftentimes, they will involve a third-party collection agency to collect on the money owed.
What Can You Do to Get a Charge-off Removed from Your Credit Report?
Read my story below (and check out the photos for proof) to see how you can remove charge offs from your credit report.
Learning About Credit the Hard Way
A number of years back, I suffered some difficult times in my life. The company I worked for went under and I lost my job as a result. My bills got out of control and I could no longer meet my financial obligations. After a while, my accounts were all charged-off and I started getting calls from collection companies.
The phone calls from collection agencies were incessant and it caused me a lot of hardship as they tried to collect. Finally, I declared bankruptcy in order to escape, but my credit suffered the consequences.
I Took Control of My Credit Score
For the next several years, I couldn’t qualify for a home loan, auto loan, or almost any form of credit because my credit score was so low. Being rejected again and again for financing was an embarrassing process.
A buddy of mine referred me to Lexington Law and told me that they were a great company to work with. I was unsure if I should trust him initially, but he showed me how they had helped him, so I decided to give them a shot. I checked out their website to see if it was for me.
Lexington Law Helped Me Save My Financial Situation
I called the number on the website (800-220-0084) and I spoke with a lady who was an expert at helping people repair their credit. She wasn’t judgmental at all and sincerely tried to understand my situation and help me as best she could. I signed up with Lexington Law here and I’m really glad I made that choice. I saw results quickly when after only three weeks, I got my first letter in the mail saying that a negative item had been removed from my credit report. I got more letters after that.
My credit scores started to climb and after a while I was finally able to buy a new home. I feel like it would have taken me much longer if it hadn’t been for the help of Lexington Law. Giving them a call was one of the best financial decisions I have ever made (see below).
Charge Offs Removed from My Credit Report:
“I have to admit I was a little skeptical at first, but after seeing what you were able to do with my credit after only a few months, it is very reassuring. Thank you for everything you are doing for me and please pass on to your staff my appreciation for all of their hard work.”
– T.B., Lexington client
“Thank you for your service. I have had great results from the work you have done on my behalf. I had been warned not to use any credit repair company, but after some research I decided to give Lexington a try. The results have been better than expected. Several items have been deleted from my credit report and more importantly my credit score has dramatically improved. I was recently approved for ‘best rate’ financing on a new car and a home construction loan. Thanks.”
– B.K., Lexington client
You can read hundreds of client testimonials and even watch some very inspirational client video testimonials here:
If you’re sick and tired of having bad credit, I recommend you visit Lexington Law Firm. They can delete all kinds of negative items from your credit reports, including: bankruptcies, foreclosures, repossessions, charge offs, judgments, tax liens, collections, late payments and more.
Discount for Family Members, Couples, and Active Military!
Lexington Law is now offering $50 off the initial set-up fee when you and your spouse or family members sign up together. The one-time $50.00 discount will be automatically applied to both you and your spouse’s first payment.
Did you know that military service is one of the 5 credit killers? Military families are often under high stress and pressure. There isn’t always time to think and sometimes being a military family means packing up and moving with little notice. It is easy to be late or miss an occasional bill payment when things get hectic. Missed and delinquent payments of any kind affect your credit score. Lexington Law offers active military members a one-time $50 discount off the initial fee.