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It means that the creditor (bank or other lending institution) has decided that you're a deadbeat and doesn't think it will ever get it's money back. It also means that you've been reported to the credit bureaus as a deadbeat and that your credit score just went lower than whale droppings.
You know Iam sitting here reading this and was totally pissed at this answer..in todays economy with so many people out of work..have been through their life savings to pay bills and keep their homes and you post something like this? Really? That's mean and cold and for the person asking the question its a slap in the face..
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∙ 12y ago
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If an account is written off on your credit report can you dispute it?
no
What does a charge off with a zero balance mean?
A charge off with a zero balance means that a creditor has written off your account as a bad debt. This will show up as a negative mark on your credit report.
How long will a write off effect your credit report?
I believe you mean a charge off? If this is what you mean, it will stay on your report for seven years. But, if you are interested in understanding what to do once a charge off has taken place, and it is sold to a collection agency
What should you do to get paid collections off your credit report?
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.
What does write-off mean on a credit report?
A write off means a charge off. This is one a creditor closes an account due to non payments.
If an account is written off on your credit report can you dispute it?
no
What is a Charge-off in a credit report?
A charged off account is similar to a collection on your credit report. The creditor has written off the debt owed and closed the account. The debt is still valid though and can be collected on. The charge off will lower your credit score unless removed. You can dispute a charge off and this give the credit bureaus 30 days to verify the charge off or it must be removed from your credit report.
Need to get a reepo off my credit report?
i need to get a repossession off my credit report
What does a charge off with a zero balance mean?
A charge off with a zero balance means that a creditor has written off your account as a bad debt. This will show up as a negative mark on your credit report.
If you file bankruptcy will that remove a charge off report from a credit card?
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
How long will a write off effect your credit report?
I believe you mean a charge off? If this is what you mean, it will stay on your report for seven years. But, if you are interested in understanding what to do once a charge off has taken place, and it is sold to a collection agency
When can you stop claiming an eviction if its already off your credit report?
If Its off your credit report ,and rental history you can stop clamming today!
What should you do to get paid collections off your credit report?
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.
What does write-off mean on a credit report?
A write off means a charge off. This is one a creditor closes an account due to non payments.
How to fix auto loan charge off?
What do you mean by "fix" it? Do you want this taken off of your credit report? Was the loan legitimately charged off? Do you still owe a balance on the loan? If you have a legitimate charge off reported on your credit report, it cannot be legally removed. If you owe a balance and the charge off is recent, paying off the balance could help. However, the charge off will still show on your credit report for 7 years, and only time will remove it. Still, if you keep your credit in good shape otherwise, the charge off will hurt you less and less as time goes by. Read more about your credit report and score in the link below.
How do you get bankruptcy off your credit report?
A bankruptcy will remain on a credit report for the required ten years, it cannot be removed arbitrarily.
How can you get your chapter 7 bankruptcy off your credit report?
It should rotate off of your credit report about 7 years after being discharged. It cannot be removed.
