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justcallme

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Removing charge off to fix credit
So i have been working very hard to fix my credit. I had two accounts that went into collections. One i managed to get rid of because they couldn't validate the debt and the second one i manage to get rid of too. The problem is i expected by removing both my credit would sky rocket but what actually ended up happening is the orginal account passed 7 years and fell off my report and the second account says it was charged off what am pretty sure is hurting my credit. My question is how can i get this charge off removed from my account if anything. It won't fall off my report until 2018 and i want to buy a new car soon. any suggestions? Thanks in advance!!

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You can try a "pay for delete agreement" if you haven't paid it or a "Goodwill Letter" if you did pay it, but charge offs can be hard to get removed. Being that it is five years old, it probably is not causing as much damage as you may think, but it surely is still damaging. You should be able to find an auto lender that will finance you, but the rate may be higher. Have you done everything else that you can at the current time to improve your credit? Make sure you have a current credit card or two in good standing. Make sure that you watch your FICO scores as that is what auto lenders will use. Make sure you have a decent down payment. Be aware that a collection may pop back up on your reports for the charge off that is still showing, so you may want to act fast if you are going to try to get an auto loan.

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