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MMeilstrup
Joined: 18 Sep 2008
MMeilstrup's page
Posts: 2
136 Magic Points
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Subject: How can I have a charge off removed from my credit?
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Thu Sep 18, 2008 3:29 am
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I just discovered that two charge offs appear on my credit report. I was not aware that I was an authorized user in my ex husband's account. It is having a negative impact on my credit score. I do not live in a community property state. Otherwise my credit is impeccable? How can I have them removed? |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Thu Sep 18, 2008 11:56 pm
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| I am not wise on these things nut truly it seems unfair, I hope the above post helps you. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Mon Sep 22, 2008 6:36 am
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Hi MMeilstrup
Once charge off is listed in your credit report, it cannot be removed before seven years, even if you pay back the debt in full to the creditor or the collection agency. However, the listing will be marked as "paid charge off", after you pay off the debt, which is no doubt a better listing than "charge off", in spite of the fact that it will not improve your credit score. However, as per the new FICO model, authorized user's credit report will not reflect the payment history of the actual card holder and so this charge off listing will automatically come out of your report as soon as the new FICO model starts functioning.
_________________
All the Best 
Justin |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Wed Sep 24, 2008 1:41 am
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Still will not help me out, I have things that will not fall off until 2011, hopefully my score will raise then.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Wed Sep 24, 2008 11:22 am
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It really isn't that far away GN. You really wouldn't want to deal much with the credit world as it stands now anyway. We have an economy under duress and any type of credit is rather risky at this point. I believe it will take a few years to get the mess straight that our government helped create. It is almost 2009 already so it is only 3 short years away.
You already applied and gotten approved for one credit card and that and time will be a boost to your score. The older the debt the less the impact so stop counting the days, they will pass by soon enough. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Thu Sep 25, 2008 2:21 am
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I hope so, I have been working on this for so long, I just wish I would have known the pay for delete stuff before I had paid these things off, it really annoys me that I could have had them off my report and did not.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Fri Sep 26, 2008 6:49 am
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One should always get the pay for deletion agreement is writing before paying off a debt in full. This is because, there are instances where a collection agency has agreed to delete a listing, but has not deleted the listing once the customer has paid off the debt. In such cases the borrower has no other option than to accept "paid" listing against the debt in the report. But if you have the agreement in writing, you can always dispute the listing with the credit bureaus and get it removed from the report.
_________________
All the Best
Justin |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Sat Sep 27, 2008 2:47 am
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Not much else to say Justin, you hit the nail right on the head, great job.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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erb1953
Joined: 31 Dec 2007
erb1953's page
Posts: 621
-55 Magic Points
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Sat Sep 27, 2008 11:03 pm
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| yep, great job Justin |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Sun Sep 28, 2008 4:37 pm
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| Justin is a pretty awesome poster. I usually read all his responses cause he seems to know his stuff. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Wed Oct 01, 2008 12:43 am
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| I haven't been here long...close to half a year or so but I can tell you that I have learned more in those few months than I probaly learned in the last few years. So many people now I run into are always asking questions about credit ..now I can actually answer them. |
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