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seeking advice on charge-off removal

C

CreditRevamp

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May 12, 2025
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I had a loan default about five years back, and for a while, I was getting a ton of letters from collection agencies. But lately, it seems like they've stopped coming. I haven't noticed any updates on my credit report in the last two years. I know that after three years, they can't sue me, but I'm curious if lenders usually just write off bad accounts and move forward. Has anyone ever had any luck getting a charge-off taken off their credit report?
 
The TL sticks around for 7 years from the date of first delinquency. That lender doesn't do pay for delete requests. Avoid disputing it because it'll likely come back verified and could hurt your score. You can try settling and then attempt a goodwill letter, but there's no promise it'll work. Settling means they won't update the info. If not, your best bet is to just wait the 7 years. Make sure to pull your credit report too and see if both the original creditor and the collection agency are reporting. If it's just the collection agency, you might have a chance with a pay for delete
 
CreditRevamp said:
I had a loan default about five years back, and for a while, I was getting a ton of letters from collection agencies. But lately, it seems like they've stopped coming. I haven't noticed any updates on my credit report in the last two years. I know that after three years, they can't sue me, but I'm curious if lenders usually just write off bad accounts and move forward. Has anyone ever had any luck getting a charge-off taken off their credit report?
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After a few years, they usually sell the debt for pennies and move on. But it's gonna haunt your credit for sure. I think @DebtDoctor here is up to something, but you may still wanna check if there are pay-for-delete options for you. Credit repair is hard, man.
 
After a few years most lenders either sell the debt off or just write it down, especially if it's past the statute of limitations but that doesn't mean it disappears from your credit report though, it can stay up to 7 years from the date of first delinquency, sometimes you can get it removed early with a goodwill letter
 

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