Charge off on credit report help

It falls off your credit report 7.6 years after it was charged off. If it has been more than that then dispute the entry as being too old and you want it removed. If it has been less than 7.6 years then there is nothing you can do to get it removed.

If the charge off got listed in your credit report on 08/2001, it should have gone out of your credit report by now. However, if it is still there in your report, you can dispute it with the credit bureaus. The bureaus will verify it and will get it removed from your report.

isn't it 7.6 from date of first delinquency?

I don't think so. . The sol goes from date of last payment. I am almost certain credit reporting is from date of charge off.

I found this on creditinfocenter.com:


Accurate negative information generally can be reported for seven years, but there are exceptions:

* Bankruptcy information can be reported for 10 years;
* Information reported because of an application for a job with a salary of more than $20,000 has no time limitation;
* Information reported because of an application for more than $50,000 worth of credit or life insurance has no time limitation;
* Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer; and
* Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.
* Tax liens stay on 7 years from the date PAID.

Some other rules to keep in mind:

The Statute of Limitations has nothing to do with the length of time something can stay on your credit report, they are two TOTALLY separate things. Again, there is absolutely NO relationship.

The length of time a negative mark can stay on your credit report starts from the time you were late or the late payment went into collection, not from the last time you made a payment on the account. Some collection agencies update their reporting status on you to keep the account active with the bureaus to extend the time the account appears on your report. Very crafty and underhanded of them, because most often the account is updated and the period of time the account is active appears to be extended. This is illegal! Challenge this! If you do, bureaus will correctly remove it 7 years from origination. Period. In other words, paying a collection will not keep it on your credit report for a longer period of time.

I have a question about Charge Offs. I have 2 on my report and one I just actually paid off through a collection agency that's not even listed on my report yet it's not showing anything has been done. The other charge off is listed as closed yet another collection agency is on my report showing I owe them a much higher amount & I know it's for that Charged Off/Closed account. It just seems wrong- is it??