Charge offs will stay on your credit report for seven (7) years from the Date of First Delinquency (unless removed). In layman's terms, this is the date of the first missed payment that eventually lead to the account being charged-off.
Four things to keep in mind regarding charge offs staying on your report:
- Charge off accounts will stay on your report for seven years (unless removed)
- The seven year period begins on the date of the first missed payment at which the account was “let go”
- The account should be deleted at the end of the seven year period (but sometimes isn't)
- Once the account is removed due to being on your report for seven years, it’s permanent
Get Your Charge Offs Professionally Removed
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (800-807-4388) or setup a consultation with them. They also happen to have incredible customer service.
Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.