You can remove a charge off by disputing the mark. This is done directly with the credit bureaus.

A dispute is the consumers' method to challenge the accuracy or validity of a negative mark. There are two methods to dispute a charge off.

1. Compose a dispute letter

You can write a dispute letter yourself. In the letter you must include the reason why the negative mark is incorrect for example; never paid late, not my account, item is out of date.

Once your dispute letter is deemed valid the bureaus will conduct an investigation. They will contact the creator of the charge off (often a credit card company) and verify the amounts and that the account does exist.

2. Hire a credit repair service

If you choose this method you will only have to tell the service which items you want to dispute and they will handle the rest. I suggest a service if you have multiple negative marks.

Most firms have credit attorneys on their payroll. This can make all the difference when it comes to a negative mark being removed from your credit.

These attorneys have an expert understanding of the ever evolving credit laws. They will often be able to use case precedents to help remove a negative listing.

In addition a company will be able to use advanced dispute techniques such as; creditor direct intervention and escalated dispute information requests. Also if your case should require it they can go to court on your behalf.

Charge offs will occur to an unsecured credit card after 6 months of delinquency. This mark will be reported on your credit report for 7 years unless you take steps to remove it.

The creditor will charge off your account at the end of 6 months. This enables them to write off your debt for tax purposes. They will sell your account to another collection agency. This agency will be able to create a negative mark on your report if they are unable to recover payment.

In addition this agency will be able to sell your account again; this can create a trail of negative marks on your credit report. Thus if you have a charge off you should give it immediate attention so it does not become multiple marks. The number of times your account is sold depends upon the size of the debt.

In sum you should take immediate action when you get a charge off. Otherwise one account can become multiple negative marks on your credit report. You can remove this item from your credit report, without waiting seven years.

For a free credit repair letter to dispute a charge off, or to read a review of lexington law a suggested credit repair service visit us.