Charge-offs on a credit report are detrimental to a person’s credit report.  I often notice that people don’t have their credit reports pulled very often.  Instead they rely on credit monitoring services, which is not bad, but what about the charge-off that were there before the monitoring started?  Others are many time oblivious to their credit score or any derogatory marks on their credit report.

Here is what I suggest, first pull your credit report from a reliable source.  The second thing you want to do is to review your report with alone or with a financial expert.  Then identify all of the accounts that have charge-off attached to them.  Normally you can contact the original creditor and make arrangements to pay the balance, if it is truly your of course.  Upon paying the balance request from the creditor a satisfaction letter showing that the amount has been paid in full.  Then you will want to send a copy of this letter to the credit bureau(s) which the original creditor reported the charge-off to.

In a matter of 1-3 months your report should show that the amount was paid in full and the charge-off goes away.  Your credit score should begin to rise a bit once this happen.  

Please note that the process, although sounds very easy, can be intense. If you need further assistance please feel free to contact me at