credit report Archives -

Tag : credit report

Home»Posts Tagged "credit report"

Charge-Offs: What They Are and How to Get Them off Your Credit Report

One of the worst things you can have on your credit report is a charge-off. What is a charge-off, you might ask? A charge-off happens when an account has been behind on their credit card, mortgage, or other debt payments – usually after 180 days of not paying the required minimum payment. The creditor designating your debt as charged-off doesn’t mean you will not be required to pay the debt. Quite the contrary as the charge-off will stay on our credit report for seven years from the date it was reported as a charge-off. This would no doubt cause substantial harm to your credit score, affect future credit and loan applications — no one wants that. In this article, we will discuss charge-offs in detail as well as the steps to take to get them off your credit report.