Comments on: I have a question about an old credit card acct. thats made chargeoff status.When will this be off the record? http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm Sat, 19 May 2012 13:45:26 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: jane http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm/comment-page-1#comment-846 jane Fri, 14 Aug 2009 13:53:03 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm#comment-846 with a credit card debt you won't have to worry about your credit rating going higher for awhile with a credit card debt you won’t have to worry about your credit rating going higher for awhile

]]> By: coyoterun01 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm/comment-page-1#comment-847 coyoterun01 Fri, 14 Aug 2009 13:53:03 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm#comment-847 It takes seven years for it to drop off your report It takes seven years for it to drop off your report

]]> By: Eric (Florida) http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm/comment-page-1#comment-848 Eric (Florida) Fri, 14 Aug 2009 13:53:03 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm#comment-848 Hi BlueShade, I've had the same type of problem. Charge-offs occur when a creditor decides that for whatever reason it would rather write off your debt as a loss than attempt to collect it from you. They will remain on your credit for seven years from the time of the first missed payment that led to the charge-off. Keep record of the date because it has been my experience that even after seven years, you may have to call the credit bureaus (Equifax, TransUnion & Experian) and tell them to remove it. Hope this helps...good luck. Hi BlueShade,

I’ve had the same type of problem. Charge-offs occur when a creditor decides that for whatever reason it would rather write off your debt as a loss than attempt to collect it from you. They will remain on your credit for seven years from the time of the first missed payment that led to the charge-off. Keep record of the date because it has been my experience that even after seven years, you may have to call the credit bureaus (Equifax, TransUnion & Experian) and tell them to remove it.

Hope this helps…good luck.

]]> By: ratfog2005 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm/comment-page-1#comment-849 ratfog2005 Fri, 14 Aug 2009 13:53:03 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm#comment-849 good day, if you log onto freecreditreport.com it will tell you if your eligible to receive your credit report from the 3 major companies. when you receive your credit report it will tell you next to each creditor good or bad when it will be removed from your report. usually they stay on for 7 years such as bankruptcy but again they will tell you on the report when it will be removed. there are companies out there that specialize in removing negative items but it usually costs about 50 - 100.00 for each negative to come off of each credit reporting agency. hope this helps you understand a lil better good day,
if you log onto freecreditreport.com it will tell you if your eligible to receive your credit report from the 3 major companies. when you receive your credit report it will tell you next to each creditor good or bad when it will be removed from your report. usually they stay on for 7 years such as bankruptcy but again they will tell you on the report when it will be removed. there are companies out there that specialize in removing negative items but it usually costs about 50 - 100.00 for each negative to come off of each credit reporting agency. hope this helps you understand a lil better

]]> By: Pat B http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm/comment-page-1#comment-850 Pat B Fri, 14 Aug 2009 13:53:03 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-question-about-an-old-credit-card-acct-thats-made-chargeoff-statuswhen-will-this-be-off-the-record.htm#comment-850 Went through this in the early nineties.....it'll be there for seven to ten years....it will follow you around. If it's only twenty-one hundred, contact the credit card company and work out a payment plan. Explain why you weren't able to pay. They don't have to believe you....they just type in to that computer screen. If the debt was sold to a collection agency, then you will have to deal with them. But, your chargeoff will still show up. However, it is better to pay that off. And that will show on your credit report. Went through this in the early nineties…..it’ll be there for seven to ten years….it will follow you around.

If it’s only twenty-one hundred, contact the credit card company and work out a payment plan. Explain why you weren’t able to pay. They don’t have to believe you….they just type in to that computer screen.

If the debt was sold to a collection agency, then you will have to deal with them. But, your chargeoff will still show up. However, it is better to pay that off. And that will show on your credit report.

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