Forums
... I was very ill a number of years ago and things got out of controll. I have charge offs and they all look like they leave this year or nect year. I cant afford the bills should I get a secured credit card and attempt to rebuild? do I pay any of the charge offs? I need some real solid advice
Please help
Hi Bostonboy
You cannot just get rid of a charge off just like that. You will have to work towards it. A charge-off will normally stay on your report for 7 years. You can negotiate with your creditor about paying back your loan and getting the charge-off removed.
You could seek professional help in this case. If the credit company agrees to get a charge-off removed upon payment, do get this agreement in writing. However, if you are getting a secured credit card the do use it sparingly and try and not make usage to 30%. If you make timely payments on that card then it will help raise your FICO score.
I have charge offs i need advice !
It will be 7 years next month what will happen to them then ?
Well Bostonboi,
If it completes 7 years next month then pray that the creditor doesn't get a judgement against you. Normally after a charge-off stays on your report for 7 years you need to go to the bureaus on completion of the charge-off date and ask them to remove it from your record. However, if your creditors manage to get a judgment against you in the meantime, be prepared for more hassles.