How to Remove a Charge-Off from Your Credit Report After 7 Years
A charge-off occurs when a creditor, such as a credit card issuer or lender, determines that a debt is unlikely to be repaid after several months of non-payment—typically 120 to 180 days. The creditor closes the account and reports the debt as a loss to the credit bureaus (Equifax, Experian, and TransUnion), marking it as a charge-off on your credit report. This negative entry can significantly lower your credit score , sometimes by 100 points or more, and make it harder to qualify for loans, mortgages, or credit cards. Even after seven years, if the charge-off remains on your report due to errors or oversight, it can continue to affect your ability to secure favorable credit terms. The seven-year timeline begins from the date of the first missed payment that led to the charge-off, not the date the account was opened or when the charge-off was reported. If the charge-off is still listed after this period, it’s likely due to a reporting error by the credit bureau or creditor. Additional...