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What is a charge-off? Charge-offs occur when a creditor has written off your past due balance as a loss.

Once your account is past due by 120 to 180 days, or more, the creditor may “charge it off.” Even if it is charged-off, you remain responsible for paying the balance. Charge-offs  can cause a drop of your credit score  by as much as 100 points. The account’s status is simply changed to “charged-off paid” or “charged-off settled.”  Usually, a charged-off account will stay on your credit report for seven years. After seven years, a charge-off will automatically fall off your credit report.

Removing charge-offs from your credit reports can be difficult and time consuming, however, an experienced credit repair company like TCC can help you. TCC will negotiate on your behalf to discuss a “pay for delete” arrangement with the creditor or debt collector to remove or update the charge-off account from your credit file.


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