Disputing a charge-off on your credit report involves the following steps:
1. Review the Information
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Obtain a free copy of your credit report from AnnualCreditReport.com.
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Review the charge-off details, such as the creditor’s name, account number, balance, and dates.
2. Verify the Accuracy
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Confirm whether the charge-off information is accurate. Dispute it if:
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The debt isn't yours.
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The balance is incorrect.
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The dates (like the date of delinquency) are wrong.
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The account is being reported more than once.
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3. Dispute the Charge-Off
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Online Dispute: Most credit bureaus allow disputes through their websites.
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By Mail: Write a dispute letter to the credit bureau reporting the error. Include:
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Your name and contact information.
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A description of the disputed item.
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Supporting documents (e.g., proof of payment, correspondence with the creditor).
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Copies of your ID and a recent utility bill for identification.
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Send the letter via certified mail with a return receipt.
4. Contact the Original Creditor
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Reach out to the creditor to verify the charge-off details. Request proof of the debt or negotiate a settlement if the charge-off is valid.
5. Wait for Investigation Results
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Credit bureaus have 30–45 days to investigate your dispute. They will notify you of the outcome and provide an updated credit report if changes are made.
6. Follow Up
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If the charge-off is not corrected and you believe the error persists, you can:
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File a dispute directly with the creditor.
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Add a consumer statement to your credit report explaining your perspective.
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File a complaint with the Consumer Financial Protection Bureau (CFPB).
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7. Consider Professional Help
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If the dispute process feels overwhelming, consult a credit repair specialist or attorney.
Here is a FREE Sample Charge Off Dispute Letter
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Your Email Address]
[Your Phone Number]
Date: [Insert Date]
Consumer Financial Protection Bureau
1700 G Street NW
Washington, DC 20552
Subject: Complaint Regarding Inaccurate Charge-Off on Credit Report
Dear Consumer Financial Protection Bureau,
I am writing to formally lodge a complaint regarding inaccurate and unfair reporting of a charge-off account on my credit reports. I have tried to resolve this issue with both the original creditor and the credit reporting agencies but have been unable to obtain a satisfactory resolution.
The details of the account in question are as follows:
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Creditor Name: [Creditor's Name]
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Account Number: [Last four digits of the account number, if available]
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Date Reported: [Date of charge-off reporting]
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Credit Reporting Agencies Involved: [Experian, TransUnion, Equifax]
Issue Summary
The information being reported about this account is inaccurate because [describe the specific issue, e.g., "the balance is incorrect," "this is not my account," or "the account was settled but is still listed as charged-off"]. Despite providing evidence and disputing this information through the proper channels, the errors persist.
Steps Taken
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On [Date], I submitted a formal dispute to [credit reporting agency name(s)] about this charge-off.
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[Credit reporting agency] responded on [date] with [describe response, e.g., "a refusal to remove the inaccurate information without adequate justification"].
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I also contacted [creditor name] on [date] to request validation of the debt and have yet to receive a response or adequate documentation.
Impact on Me
This inaccurate charge-off is negatively affecting my credit score and financial well-being. It has resulted in [describe any specific consequences, e.g., "denial of credit," "higher interest rates," "stress," etc.].
Requested Resolution
I am seeking the CFPB’s assistance to:
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Investigate this issue thoroughly.
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Require the creditor and/or credit bureaus to provide proper validation of the debt or remove the inaccurate charge-off from my credit report.
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Ensure compliance with the Fair Credit Reporting Act (FCRA) and any other applicable laws.
Attached to this letter are copies of my correspondence with the credit bureaus, the creditor, and any supporting documentation, including my identification and credit report excerpts highlighting the issue.
Thank you for your attention to this matter. Please feel free to contact me at [your phone number] or [your email address] if additional information is required. I trust the CFPB will address this matter promptly and fairly.
Sincerely,
[Your Full Name]
Attachments (include as applicable):
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Copies of dispute letters sent to credit bureaus.
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Credit bureau responses.
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Proof of identity (e.g., driver’s license, utility bill).
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Credit report excerpts highlighting the error.
