How to ACTUALLY Delete Every Charge off | Credit Repair

when you search delete charge offs on YouTube You'll see a lot of videos telling you you can do it in 24 hours although this isn't impossible some of those methods may not be the most ethical so it may take you a little longer than expected if you're doing it the right way and there's no guarantee that every charge off will come off of your credit report I'm going to show you my exact method step by step on how to delete charge offs on your credit report so you could be well on your way to getting that high credit score that you've been looking for I see a lot of people use charge off and collections synonymously but here's what a charge off actually means this means that you agree to pay a debt but you stop paying it and the lender charge your debt off so now they wrote it off on their taxes you can no longer use that account and they're trying to recoup the payment from you by calling sending letters things of that nature to get their money back from you so now the account has been charged off sometimes it'll go to a third-party collection sometimes it'll still will be with the original company in the form of a charger so I love using credit karma to check my data points and you know being able to see my score every single day but Credit Karma does not show your charge off accounts it also uses a vanish score model which is different than a FICO score model that lenders use so if you want to check your credit report go to myscore iq.com pull your credit reports for all three bureaus and it'll show you every single account whether it's a charge off or collection on your report on that account type and account status you'll see charge off slash collection you also see derogatory for the status this will let you know this account is not in good standing and it needs to be disputed off your credit report you'll also see a two-year payment history at the bottom of each account if you see Co on the payment history that means it's a charge off account so that's going to help you identify your charge off accounts on your credit profile so now you've identified your charge off what do you do next so you don't want to just send random dispute letters to the credit reporting agencies you want to follow a strategic step so first you want to validate your charge off you want to send a 609 validation or debt letter you can grab my letters using the link in the description below with the 609 letter you want to include the charge off account the account number and the instruction for that account the instruction can be as simple as please validate this debt if you cannot validate it please remove this account from my credit profile you want to attach a copy of your ID copy of a utility bill insurance bill or bank statement showing proof of address and a copy of your Social Security card or add your social security number at the top portion of the letter so you're going to send a copy of this letter certified mail to each credit reporting agency that the charge off is showing up on you're also going to file a complaint online at consumerfinance.gov of which is the cfpb to Consumer Financial Protection Bureau which governs the credit reporting agencies and creditors you're going to attach your letter and send this complaint to the cfpb directly to Experian Equifax TransUnion then we're going to sit back and wait 30 days so we waited 30 days there's three things that could have happened so one the credit reporting agency sent a letter containing a copy of your original application with the original company two they send you a validation letter without that application three they don't send you anything at all so if option one happens we want to send back a method of verification letter asking them how do they verify these things if option two or option three is the case we want to send a demand to comply letter and you can find these letters using the Google Drive Link in the description below we want to send the demand to a comply letter using factual disputing where we look at the details and the facts on the account look for inaccuracies or we want to use consumer law so we use one of these two options send the letters to the credit reporting agencies and also send a complaint including these letters to the cfpb once we do these things we want to sit back and wait another 30 days so after another 30 days so now we're at 90 days you may receive a letter where the credit bureaus agree to delete the charge off off your report or they still want to go back and forth where you may get legal counsel involved or you may hire a credit repair agency so I've had clients that have gotten charge offs deleted off their credit report but it ends up popping back up years later you want to continue to monitor your credit report closely if you haven't settled any previous debts things may start to pop up on your credit report once you start the dispute process with sending letters to the credit reporting agency so you always want to settle debts regardless of if the account is deleted off your report or if it remains on there remember when it comes to credit it takes time and effort but it's well worth it once you come out of the other side with a 700 credit score so just make sure you're being financially sound keeping those habits intact and you know that's what it is if you have ever been laid on a credit card bill whether it's 30 days 60 days or 90 days late I recommend you watch the video to the left where I break down how you can remove late payments step by step I appreciate you guys for tapping in hit that subscribe button and as always have a play for your money Family let's get it

Channel: DeAngelo Watson

Views: 26,856

Keywords: credit repair, diy credit repair, how to fix my credit score, Check Credit Report for Accuracy, Credit Repair Tips, Credit Score Improvement, credit repair secrets, increase credit score fast, fastest way to build credit, how to delete charge offs from credit report, how to delete charge offs, remove charge off from credit report, remove charge offs, increase credit score, charge off on credit report, charge off removal

Id: OhwqOvQCRwQ

Length: 5min 29sec (329 seconds)

Published: Sun Oct 08 2023