What does Charge Off mean on my Credit Report? Does Charged Off mean I don't have to pay?

What happens if you negotiate with the creditor for a lower amount?

What if the account is charged of but not given to a collections agency (at least not yet). What is best to do?

How come my credit went up 120 points for chargeoffs

They can’t sell your information without your knowledge! Dispute it!

Getting your credit fixed. Can remove the charge off?

I just don’t freaking get why in this day an age they can’t flipping give me a warning. I didn’t even know this was a thing! I was fully planning to pay my card off soon and if I’d been given an email warning or an app warning I wouldn’t be in this mess! 11 years of being 700+ close to 800 and 6 months gets me screwed?!

Im getting calls from a debt collection agency. They claim that the original lender didnt sell them the loan. they are only helping them collect? Does anyone know if this is true?

I have an issue with a closed account I was a joint owner of. The primary owner started missing payments and it went on to be charged off. I called them and they gave me a settlement balance to make the outstanding balance $0, but told me the payment history would not change even with this payment, nor delete the account off my report. How can I remove these missed payments or account from my credit report so it stops showing as late/charged off.

How can you find the first delinquent date?

Is it legal for both the charge off AND collection to be on the report. Shouldn't just the collection be ?

Last month after 30 days Verizon referred my account to collections after I switched to spectrum. I owe like 400 and they are calling me from collections. I’m pissed at Verizon for doing this I was going to pay then but they sent me quickly to collection. I already have a house and a car, should I pay it or can I get away with just saying screw it.

How about a 1099C ?

What if you paid it and they still put charge off

15 U.S. Code § 1681a - Definitions; rules of construction (2)(A)(I) states that (2) Exclusions.—Except as provided in paragraph (3), the term “consumer report” does not include—
(A) subject to section 1681s–3 of this title, any—
(i) report containing information solely as to transactions or experiences between the consumer and the person making the report, in other word any negative accounts, late payments and charge-offs are illegal to report by federal law. you can get it off start studying consumer law

I was given a IRS tax form that the credit card company did A charge off. I had to include that charge off in my annual income. Which I did and paid it which put me in a higher tax bracket. However, I did negotiate a settlement on the credit card before I got divorced which I forgot about.
Can I go back to the IRS and say that AX settled with me and then charged it off. Why would they do that because they can? Is there some type of insurance they have with the federal government?

I have a big issue with this. I bought a car from the Hyundai dealership years ago, and then after 2 years the car died on me, so I took it to the dealership to get it fixed and they told me they were going to fix it and that they would call me when it's done. Weeks later the dealership called and told me that the person who was fixing my car took the vehicle for a test drive and then had an accident so they took it to the Auto repair shop. 3 days later I received a total loss letter I spoke with the dealership team and they said they were going to put the gap insurance on the car and that that would pay off the reminding of my car loan, so I stopped paying them but I kept receiving monthly charges. The insurance took like 7 months to pay off the remaining of the loan. Now I have been dealing with the charge-off even though it was;t my fault because I was told that the insurance was going to pay off the loan so I didn't need to worry about payments. Never again will buy a car from Hyundai.

So if I pay it off will Img score go up

I have a closed account but it’s still gaining interest how?

hey Adamanswers, I wanna learn how to fix my credit and come up. Thank you for your help!

Good info !

Lies liesss a debt collector can not go after you that’s violation by law !! You never sign a contract with the debt collector so it can be removed !! Stop telling these people lies ! Also before the creditor try to put anything on your consumer report they have to send disclosures form n also notify you if you want your public information reporting so not guys he lying don’t believe anything please read the law

I USED TO HAVE GOOD CREDIT .
I USED TO HAVE A NEW CAR .
I USED TO PAY MY LOAN .
I USED TO PAY MY CREDIT CARDS.
THEN JOE BIDEN BECAME PRESIDENT.
NOW I'M FUCKED .
NOW I JUST TAKE UBER .
FUCK IT .

Thats bullshit. They cant put two different accounts for the same account on your credit report.

I like how the moron does not state your right about stuff that get put on your report. Had my charge off removed as all info was in error

How long do a charged off stay on your credit report

Thank you for this information,, but I would like to ask you something, if I get charge off, do I need to still pay for this debt to whoever buy this debt from de creditors?? Or better if I do after getting charge off do I need to do bankruptcy??

Can you do a video on getting a chase card after you had a charge off with them in the past. Maybe how to talk to them on a reconsideration line or something?

What a white wash recording

But I had a charge off and my credit score went up and my credit is in better standing now I was loosing credit points on a consistent basis when it was delinquent once it was charged off and account closed my score went up dramatically by over 150 points

Ok a loan co. I took out a small loan, I offered them a partial payment (my sister passed away) they refused it, I refused to pay anything else another loan co. Took m

My debt, they closed out my acct.but for the last 4yrs they have been charging me interest can they do that

Discover chargeoff is in-house. Credit score improves only after 7 years deletion.

Scam sounds more like the "legal term" 🤣 They get a tax deduction but you still on the hook.

You mentioned garnish of wages... I got these charge offs because I became disabled... my question is can they garnish my SSDI payments

Can i be in jail with this? I owe more than $17,000 of debt and i cant afford to pay this anymore. I rsther he in jail with this if i cant to be honest.

A charged off account that’s been sold. Has to say sold for less or has to be deleted. And the balance has to be zero. And collection mostly they won’t have all documents on that account so that won’t be hard to delete

They ruined the credit worthiness then they sell it sounds like Mafia

My suggestion is file chapter 7 bankruptcy then start fresh

So if it’s a car it gets re-Po’ed they keep the car and you still owe them?

Seems like the whole system is a lie. The credit report is the boogie man. If you stop planning to borrow money then you don't need a credit report.

If you have a charge off account…make sure you then contact the original creditor and have them either, report your account as “Paid for, for less” or they have to remove it altogether!!!…because, if you personally paid them or the debt was sold off to a third party collection agency…THEY HAVE BEEN PAID!!!

I have accounts a decade old that are NOT Chrged off but still in collections

I opened a loan for 4000 through Mariner finance and it became 6000 and they said they added interest on right away apparently. I went through identity theft by my own mother in 2021 and couldn’t pay anything so they charged it off and now it shows the balance going up every month? Why?

Very true on all you have said, but one thing a collection agency has to do is proof they own the debt, and there is all kinds of legalities they have to abide by to prove to you that they are actually the real debt owners… ex: you sell a car, the car needs a title and has to be signed… if not signed or having proper documentation to support it is invalid…. But collection agencies can out off the blue contact you and say anything they want without proof of ownership is ridiculous!

Why do you keep charging me for what You are doing

Also, why do you long to bully me with your words, where I cannot speak back?
You desire, very passionately, to talk down to me. WHY?

Talking about ethics and scumbag collection agencies is an oxymoron. Thanks for the video. Subscribed.

Can I pay any dollar amount to the collection agency that has my Capital One account now?

Why Not Just File BANKRUPTCY? If Your Pay Changed & U Can't Pay? A Judgement Would Be A Financial Killer If U Couldn't Pay Beforehand You Sure Couldn't Afford To Pay A Judgment.