Credit Score in 43160>Question Details

Artie, Home Buyer in 90037

if on a credit report it says charge off how bad does it hurt some ones credit and a few student loans could not find a job when he got out of school

Asked by Artie, 90037 Sun Mar 28, 2010

for 1 1/2 years now he has a job been at it for 3 months how does he clean his credit up fast

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Charge offs are taken very seriously as it was a failure by you to pay your debt!
0 votes Thank Flag Link Wed Jun 15, 2011
A charge off declares the debt as a loss for the company--you are still responsible to pay the debt--charge offs stay on your credit report for seven years from the date first reported, however you can ask the charge off be removed from your credit in exchange for payment, and if you can come to an agreement with the lender, have it in writing. Start by contacting the lender directly, speak to someone who has authority to remove the charge off--let the lender know you are interested in paying the account and would like to make payment arrangements or pay in full, in exchange for having the charged off removed from your credit report.
0 votes Thank Flag Link Sun Mar 28, 2010
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