Remove Charge Offs

When there is a charge off on your credit history it will dramatically lower your credit score. This will make getting new credit very hard.

On occasions when you do get approved, you will pay much higher interest rates or have to make a large down payment. This is the penalty the credit system imposes on people when they can not pay their debts.

This system does not recognize that catastrophic events occur. When someone is faced with the decision of feeding their family or making a payment, the choice is obvious.

Credit bureaus have caused a false belief that when a charge off happens there is no recourse for the individual. That person will have to pay the high interest rates and large deposits for 7 or more years. This is not true.

Fair Credit Reporting Act says that any unverifiable or inaccurate credit listing must be removed by the credit bureau. Typically lenders will not spend the money or time to verify an uncollectible debt.

Regardless of the veracity of the listing it is typically removed when an investigation occurs. However complications happen in the initial stage of requesting the investigation.

This happens because the credit bureaus only motive to conduct an investigation is to be compliant to the Fair Credit Reporting Act. The bureaus don't earn any extra money from conducting an investigation and instead spend money that would otherwise be profit.

Thus credit bureaus are very resistant to granting an investigation. They have a formula in place to discourage and frustrate an individual when they request an investigation. This is the common reason people will hire a professional credit repair firm.