Remove and Delete Charge Offs

A charge off is a very detrimental mark for your credit score. Having this on your credit history will make getting approved for a new credit line very difficult.

On occasions when you do get approved, you will pay much higher interest rates or have to make a large down payment. This is the penalty the credit system imposes on people when they can not pay their debts.

Unfortunately the system doesn't factor in that sometimes life just happens and some things are beyond our control. Often good people are faced with the choice of eating or paying a bill.

Credit bureaus want you to think that when a charge off occurs you are stuck. That you will have to pay the penalties until the negative listing is naturally removed with time. This is false.

The FCRA or Fair Credit Reporting Act states that a credit bureau must remove a listing that is inaccurate of can not be verified. Lenders will rarely spend the time or money to verify an old debt.

Thus, when an investigation is granted the negative listing is often deleted regardless of accuracy. The difficulty we hear of comes in getting the investigation started.

This is because credit bureaus do not create extra income from investigations and instead spend money out of their own pocket. Their only reason to conduct an investigation is to obey legislation.

Thus credit bureaus are very resistant to granting an investigation. They have a formula in place to discourage and frustrate an individual when they request an investigation. This is the common reason people will hire a professional credit repair firm.