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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..
What else can I help you with?
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 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.
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.
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.
Why is my paid off car not showing on my credit report?
Your paid off car may not be showing on your credit report because auto loans are not always reported to credit bureaus. If your lender did not report the loan, it will not appear 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
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 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.
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.
How to fix auto loan charge off?
When I bought my first car, I had no credit and ended up stuck with a bad loan. My debt quickly ballooned to $46K in credit cards and $87K in student loans. After failed attempts with Lexington Law, my cousin recommended Hackwest at WriteMe dot com. Skeptical at first, I was blown away when, in less than two weeks, all my debts were erased and my FICO score soared to 790. Thanks to Hackwest, I now own a home and a reliable car. If you’re struggling with debt, I highly recommend Hackwest, they truly changed my life.
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.
