How to Get a Charge-Off Removed After 7 Years

A charge-off on a credit report will remain on that report for seven years. A charge-off is a debt that the lender considers a loss to the company. This does not mean that the debt will go unpaid. Often this type of debt is sold to a collection agency. But even if you pay the debt in full through the collection agency, it will remain on your credit report as a charge-off for up to seven years.

Instructions

1

Understand the type of charge-off. A charge-off might change if the debt is paid to a charged-off debt or a charged-off settled. All forms will negatively affect your credit score.

2

Get a copy of your credit report from each of the three credit bureaus, TransUnion, Equifax and Experian. Notice if the charge-off is still being reported by looking for the creditor's account and the status of the account.

3

Contact the creditor to request the charge-off be removed. This step is particularly important if you have paid off the debt in full. Creditors are more likely to remove it at that point. If it has not been seven years yet, but you have paid off the debt in full, you can still request that the charge-off be removed.

4

Report the error to the credit bureaus if it has been seven years or longer since the last reporting of the charge-off. Visit each of the credit bureau's websites (see Resources below) and request that the charge-off be removed.

5

For the fastest results, file a claim online with the credit bureaus. The credit bureau will then investigate the claim and if it determines that your claim is accurate, the charge-off will be removed from your credit report.

6

Wait 30 to 60 days and check your credit report again to ensure the charge-off has been removed. The credit bureaus will send you an explanatory letter through the mail outlining their decision to remove the charge-off or to keep it on your report.

7

Monitor your credit report annually by requesting a free copy of your report from each of the credit bureaus. Follow the claim process as outlined at the credit bureau's website for any discrepancies you find.