Unchecked Damage From Charge Offs Can Cost You Thousands!
A Charge Off is a debt that your creditor basically considers uncollectible, but that doesn't mean the damage is done. When a Charge Off appears on your credit history it means that your credit report is damaged. Your payments and interest rates on the next loan or credit card you get--if you can get one at all--will soar. This one, small financial misstep can end up costing your thousands of dollars!
But there is help.
If a Charge Off is large enough, over $1500 - $2000, you may face the possibility of a lawsuit.
That's correct: a Charge Off can lead to the loss of thousands of dollars, higher bills, uncertain credit status, and even a lawsuit!
And that's not all. In today's economy you'll need good credit just to get a loan or a credit card. Your financial life will essentially grind to a halt and you'll be unable to make the purchases you want--and need--to make. Having good credit history has become that important.
“The charge off is gone! And my credit score has really improved! You are THE BEST!”
- D.R.
As I said, there IS help. You can take steps to re-establish your financial freedom by doing a few things. Pay your bills on time. Limit your credit use. Be careful with your credit cards. Over a few years, these steps will pay dividends in improving your credit report. There is a quicker way to take action on your credit history. Work aggressively to expunge some of the negative items--like charge offs--from your credit report. You could do this by yourself, but you'll need time and expertise. If you're not an expert at credit repair, I recommend you use a legitimate, proven Credit Repair company to help you.
Click here, see my guide for picking a legitimate, proven and effective credit report repair company.