I have a question about an old credit card acct. thats made chargeoff status.When will this be off the record?

I wasnt responsible for a major credit card in 1999.Bills are the last thing you care about when you are told from a specialist that you are dying .
My bill was maybe $1100 but I wasnt able to pay or work for 13 months due to terminal illness,pain and strong research meds.injections, anyways it was never paid the acct. was closed in 2001. I avoided them after talking to them every week for the first year..The final charge due was maybe $2,100(after finance chgs) but it has been in charge off status for maybe a year now. I avoided them after talking to them all that year many times on the phone when i was ill .I have heard long ago avoiding contact is good if your not going to pay.I am in the very slow process of fixing my credit, or rebuilding it.The debt went into"CHARGE OFF"status /06. after being in late pay status for years but the account was closed in the yr 2000 . *When will the charge off be OFF my record of reporting agencies so that my credit score will be higher?

with a credit card debt you won't have to worry about your credit rating going higher for awhile

It takes seven years for it to drop off your report

Hi BlueShade,

I've had the same type of problem. Charge-offs occur when a creditor decides that for whatever reason it would rather write off your debt as a loss than attempt to collect it from you. They will remain on your credit for seven years from the time of the first missed payment that led to the charge-off. Keep record of the date because it has been my experience that even after seven years, you may have to call the credit bureaus (Equifax, TransUnion & Experian) and tell them to remove it.

Hope this helps...good luck.

good day,
if you log onto freecreditreport.com it will tell you if your eligible to receive your credit report from the 3 major companies. when you receive your credit report it will tell you next to each creditor good or bad when it will be removed from your report. usually they stay on for 7 years such as bankruptcy but again they will tell you on the report when it will be removed. there are companies out there that specialize in removing negative items but it usually costs about 50 - 100.00 for each negative to come off of each credit reporting agency. hope this helps you understand a lil better

Went through this in the early nineties.....it'll be there for seven to ten years....it will follow you around.

If it's only twenty-one hundred, contact the credit card company and work out a payment plan. Explain why you weren't able to pay. They don't have to believe you....they just type in to that computer screen.

If the debt was sold to a collection agency, then you will have to deal with them. But, your chargeoff will still show up. However, it is better to pay that off. And that will show on your credit report.

Bad news, some items will be on your credit report for ten years. Recently a friend contacted the credit bureau and they said that large balances like cars, houses, equipment can stay on on your report for ten years.

She asked them what could she do to remove the one item for a hospital bill, and they told nothing just wait the time out.

I know it is the policy of most hospital to turn any late item over to a collection agency. The hospitals have such a large volume of people coming and going that feel it not worth their time to collect the past due balances.

Be grateful that you are still alive, and having an excellent credit report does not give you extra days to live. Enjoy live and do not stress yourself out about your credit report.

According to the FCRA, a collection may only remain on your report 7 years from the 'date of 1st delinquency' that led to the charge off. This must be provided to the credit reporting agencies when a collection is sent so that it doesn't remain on your reports forever. Don't worry about the 'status', 'closed date' or any of that other stuff.Check your Equifax credit report, they are the only ones that show the 'date of 1st delinquency'. Count 7 years from that date.

If your last payment say was in 2000, it should fall off sometime in 2007. Charge off status is useless; they are just trying to get you to pay. Don't! Paying on a 6 year old debt won't help your credit. Just let it fall off.