Insane! That you can get ANYTHING remove from the credit report! And is true charge off are illegal. Once you learn about consumer laws and how to dispute anything on your credit report you feel different. I removed $4000 on collection for my cousin and she was going crazy.. and when you know something that other don’t you make some money as well.. Good Luck everyone with your disputes 🤞🏽🙏🏽
Thanks for the invaluable Daniel. Quick question, if they don't get back with me after 30 days of sending them the letters, you said that the accounts get deleted automatically. Is it totally automatic or what you mean by that is that I would need to send them a follow up letter stating some sort of law that forces them to delete the accounts since they didn't get back to me within the 30 days or do I need to go through the CFPB? Just wondering how automatic it would be. Thanks again!
The debt collection department at Mercedes Benz said that I have to dispute the charge off with the credit bureau even though I have the funds to pay, but they’re not giving me an accurate invoice so I feel like they’re trying to take my money and find a weird loophole to trap me. Any how I asked if they could remove the charge off and they said no. This is annoying.
Hello Can you tell me if in my credit report I have the account but on all 3 credit has a different name and different amount , some say I can dispute this and remove from my credit report , is this true?
@wilsonjeanne9 If a court summons was issued it's important to appear in court. I'd recommend that you consult with an FCRA attorney if this is your current situation. Once that's settled, you can work to clean up the item on the report. Hang in there, sending good vibes your way.
Hey hey😊.... Great information, 🙏 I know this is from a year ago but if you are still able to help advise me. I have a charge off from a credit union 7 yrs ago, its been in a judgment I appeared in court and said had no job and judge said pay when have job, now 7 yrs later, still reporting as current, its will a collection agency, a law firm, first of all they sent no 1009 c because its been charged off but still showing. 🙄Current status, communicated with the original debtor but heard that I need to deal with law firm collection agency, I offered to settle for 40% of now debt with fees and excess charges etc but my question is what if I get 1099c and file solvent with irs and have the bureaus remove it from my credit report.....Would that be a better way without paying because its been damaging my financial life and future dreams for 7 yrs......Please advise 🙏🤗
Hi Daniel, I paid my charge-off ASAP, it was on there without me knowing it ( didn't know I had money owed). But then they didn't take it down. What should I do now? :(
What if you had worked really hard hard for three years to fix your credit and bring it up 50 points then out of no were this company that bought your old collection bill comes around and plaice it back in your report and brings it down those 50 points
Im sorry nooooo after the first 5 mins i had to stop, you need to re-read consumer law, charge-offs are illegal to report because when the creditor report it as a lost they hsve to fill out a irs form 1099-c, that debt becomes income and you cant report a income on credit report and alsoif they sold it you dont own the new company anything period as also they brought it illegally as consumer law states they dont follow proper proceeders in getting the debt paying it re-starts your statue of limitations and you have control what get reported on your credit report
I believe you are confusing Charge Off with Debt Forgiveness. If a Creditor "forgives" your "debt" then a 1099-C is issued to the Debtor and that amount is considered income, and the Line of Credit would be removed from your trade line aka credit report. A charge off, is a loss to the company that isn't excused from repayment by the original debtor. Therefore, no money/credit was forgiven, thus no 1099-c regarding income. The Creditor does not have to remove the trade line. 1099-C comes by Debt Forgiveness. Charge Off is just a loss to the Creditor.
I have a charge off from 6 years ago. If I wait and it gets deleted, would I be able to get a new credit card from the same lender with a good credit score?
@@CreditRepairCloudDanielRosen ok I have a few of them but I’m on 6 years already. So it’s probably better to just let them fall off? What would be the benefit of trying to delete or pay for delete if they are all within a year left of the 7 yr mark??
@@JJ-gr7th you might as well wait until next year when it falls off and you don’t have to pay anything. You’ve waited this long another year ain’t gonna hurt!
Fantastic, great content as usual. 🤗👍💯🎯 Thanks for sharing ways to make intimidating items easy to remove. Keep changing lives and have a great week!😃👋☺️
Some creditors will make an example out of you with a paid charge-off and leave it on your report for 7 years. Get that Pay 4 Delete in writing as unpaid charge offs can still be negotiated via pay 4 delete.
Hey so I had a charge off around 4 yrs ago from welld Fargo credit card and paid it off in full yesterday , how will the process move forward now same 7yr span and also will it now inmprove my credit?
@@IsauraAbreu Eventually, they will attach your wages once a judgment is rendered. Let's say you owe $3,000. Your wages may be garnished $500 every paycheck until it's paid off and you won't even know it's happening until you see it missing from your paycheck. I don't know how they determine how much to take, but it's probably based on how much you make. So, maybe they only take $250 per. Either way, it's embarrassing and not a hit you should want to take. They won't even let you DIE in debt nowadays. Hide ya kids... hide ya wife...
I have a charge off from the original creditor (wasn't sold to any debt collector). They do not offer pay to delete. The balance is only $30. What are my options?
Don't contact the Creditor it's easy to get tricked into acknowledging the debt and restarting the statute of limitations...... Sometimes it's just easier to get a Chapter 7 bankruptcy and then get it removed off your credit report😁
Daniel, I filed BK 3 years ago. However, some creditors marked the debt as Charged-Off. I have written to them telling th4m that these were included in the BK, but they ignored my requests. Please advise!
Unfortunately, we don't. We do offer a software subscription to help those with a credit repair business. Along with courses to learn how to repair credit and build your own business.
The creditor paying taxes on the debt that people owe? How if it is not income and they actually use it as a loss to NOT pay as much income tax as a write off?! Please explain that as it makes no sense and they by law would have to send a 1099c to cancel the debt and the BORROWER would then be liable to pay TAXES on that debt as income.... Please clarify or change that suggestion to an accurate one
Insane! That you can get ANYTHING remove from the credit report! And is true charge off are illegal. Once you learn about consumer laws and how to dispute anything on your credit report you feel different. I removed $4000 on collection for my cousin and she was going crazy.. and when you know something that other don’t you make some money as well.. Good Luck everyone with your disputes 🤞🏽🙏🏽
God bless you for this!! I had no idea that Charge Offs are illegal
Collections and charge offs are two different things
Pay for deletion is gold💯
GMG... thx for the info, but it would be more useful if I can directly hire a credit repair person to get this job DONE... HOW?
i really need to remove charge off and late payment
Thanks for the invaluable Daniel. Quick question, if they don't get back with me after 30 days of sending them the letters, you said that the accounts get deleted automatically. Is it totally automatic or what you mean by that is that I would need to send them a follow up letter stating some sort of law that forces them to delete the accounts since they didn't get back to me within the 30 days or do I need to go through the CFPB? Just wondering how automatic it would be. Thanks again!
The debt collection department at Mercedes Benz said that I have to dispute the charge off with the credit bureau even though I have the funds to pay, but they’re not giving me an accurate invoice so I feel like they’re trying to take my money and find a weird loophole to trap me. Any how I asked if they could remove the charge off and they said no. This is annoying.
Can the creditor keep listing charge off for years and years on the credit report?
First 30 Day late Aug 2017. What should client do?
Hello Can you tell me if in my credit report I have the account but on all 3 credit has a different name and different amount , some say I can dispute this and remove from my credit report , is this true?
Yes it is the info has to be the same on all three credit reports or else you can dispute It if it’s not
Can you still follow the 3 methods to remove charge off if a court summons was issued?
@wilsonjeanne9 If a court summons was issued it's important to appear in court. I'd recommend that you consult with an FCRA attorney if this is your current situation. Once that's settled, you can work to clean up the item on the report. Hang in there, sending good vibes your way.
Hey hey😊.... Great information, 🙏 I know this is from a year ago but if you are still able to help advise me. I have a charge off from a credit union 7 yrs ago, its been in a judgment I appeared in court and said had no job and judge said pay when have job, now 7 yrs later, still reporting as current, its will a collection agency, a law firm, first of all they sent no 1009 c because its been charged off but still showing.
🙄Current status, communicated with the original debtor but heard that I need to deal with law firm collection agency, I offered to settle for 40% of now debt with fees and excess charges etc but my question is what if I get 1099c and file solvent with irs and have the bureaus remove it from my credit report.....Would that be a better way without paying because its been damaging my financial life and future dreams for 7 yrs......Please advise 🙏🤗
Hi Daniel, I paid my charge-off ASAP, it was on there without me knowing it ( didn't know I had money owed). But then they didn't take it down. What should I do now? :(
Can you still get a credit increase with frozen credit???????
What if you had worked really hard hard for three years to fix your credit and bring it up 50 points then out of no were this company that bought your old collection bill comes around and plaice it back in your report and brings it down those 50 points
What if the debt has been settled ?
I will look into it you have good presentation
Im sorry nooooo after the first 5 mins i had to stop, you need to re-read consumer law, charge-offs are illegal to report because when the creditor report it as a lost they hsve to fill out a irs form 1099-c, that debt becomes income and you cant report a income on credit report and alsoif they sold it you dont own the new company anything period as also they brought it illegally as consumer law states they dont follow proper proceeders in getting the debt paying it re-starts your statue of limitations and you have control what get reported on your credit report
What section of the consumer law states this about charge-off? I’m disputing one right now
I believe you are confusing Charge Off with Debt Forgiveness.
If a Creditor "forgives" your "debt" then a 1099-C is issued to the Debtor and that amount is considered income, and the Line of Credit would be removed from your trade line aka credit report.
A charge off, is a loss to the company that isn't excused from repayment by the original debtor. Therefore, no money/credit was forgiven, thus no 1099-c regarding income. The Creditor does not have to remove the trade line.
1099-C comes by Debt Forgiveness.
Charge Off is just a loss to the Creditor.
@@georgemalley6414Is it possible to remove a charge off using consumer law?
What about offering to pay this new company as agreed? You made a good faith offer. And you have no agreement with a third party debt collector so…
@@georgemalley6414no you need to study the laws..
Never pay full price of a charge off. Settle for less and do a pay for delete.
There are several links on the site that is not working!
Oh no! What are you trying to find? My team can also help at support@creditrepaircloud.com
What if the charge offs are included into bankruptcy that were discharged?
Yep
Thanks for this info
Thanks Daniel!
I have a charge off from 6 years ago. If I wait and it gets deleted, would I be able to get a new credit card from the same lender with a good credit score?
It depends on the card issuer. Some will, some won't
Did it get deleted from your account already? Just curious
I cleared all my charge offs with no help . He's right it takes patience. I will say it took me 7 years , but they're gone now .
It dont take that long if you had the right guidance
@@mellogic waiting 7 years is foolproof
🤣
@@jdemarco1157😂
😂😂😂 damn man i fucked up when i was 18 now i’m paying for it,
Do charge offs get removed after 7years? Or do they stay on?
Hey JJ! They stay on for 7 years. So it's worth it to try to remove them! Cheers!
@@CreditRepairCloudDanielRosen ok I have a few of them but I’m on 6 years already. So it’s probably better to just let them fall off? What would be the benefit of trying to delete or pay for delete if they are all within a year left of the 7 yr mark??
@@JJ-gr7th you might as well wait until next year when it falls off and you don’t have to pay anything. You’ve waited this long another year ain’t gonna hurt!
I have a medical collection that’s been on my report 4 years 8 months is it worth paying off at this point ?
@@edwardg02 if it’s under $1000 it really has no effect on your credit and will fall off. So you might as well wait!
Is it possible to over turn a judgement when you can prove the debt collector has made many violations.
Fantastic, great content as usual.
🤗👍💯🎯 Thanks for sharing ways to make intimidating items easy to remove. Keep changing lives and have a great week!😃👋☺️
So glad you found it helpful!
Im looking for a credit repair company that is reputable any suggestions?
Yes
For some reason the website keeps refreshing when I'm entering my information. Can you help me please?
Sorry to here that. Please email support@creditrepaircloud.com for any technical issues you are having.
I need this
Did not work
What if the charge off is paid off? Am I stuck with this charge off for the next 7 years?
What I'm trying to find out..
Some creditors will make an example out of you with a paid charge-off and leave it on your report for 7 years. Get that Pay 4 Delete in writing as unpaid charge offs can still be negotiated via pay 4 delete.
Thank you
Thank you, for continuously making these videos. Great information.
Hey so I had a charge off around 4 yrs ago from welld Fargo credit card and paid it off in full yesterday , how will the process move forward now same 7yr span and also will it now inmprove my credit?
Why did you paid it ? 😵💫😵💫😵💫😵💫
@@IsauraAbreu Eventually, they will attach your wages once a judgment is rendered. Let's say you owe $3,000. Your wages may be garnished $500 every paycheck until it's paid off and you won't even know it's happening until you see it missing from your paycheck. I don't know how they determine how much to take, but it's probably based on how much you make. So, maybe they only take $250 per. Either way, it's embarrassing and not a hit you should want to take. They won't even let you DIE in debt nowadays. Hide ya kids... hide ya wife...
I have a charge off from the original creditor (wasn't sold to any debt collector). They do not offer pay to delete. The balance is only $30. What are my options?
Remove you don’t pay charge off or collection
Don't contact the Creditor it's easy to get tricked into acknowledging the debt and restarting the statute of limitations...... Sometimes it's just easier to get a Chapter 7 bankruptcy and then get it removed off your credit report😁
Daniel, I filed BK 3 years ago. However, some creditors marked the debt as Charged-Off. I have written to them telling th4m that these were included in the BK, but they ignored my requests. Please advise!
Dispute them online on the 3 major credit bureaus it gives options to say they are included in a bankruptcy
Do research on Metro 2, this video wont help you and comments wont either
WONDERFUL VIDEO!!!
Daniel do you offer credit repair service?
Unfortunately, we don't. We do offer a software subscription to help those with a credit repair business. Along with courses to learn how to repair credit and build your own business.
The creditor paying taxes on the debt that people owe? How if it is not income and they actually use it as a loss to NOT pay as much income tax as a write off?! Please explain that as it makes no sense and they by law would have to send a 1099c to cancel the debt and the BORROWER would then be liable to pay TAXES on that debt as income.... Please clarify or change that suggestion to an accurate one
#replay! Great stuff! Appreciate you!
⭐️⭐️⭐️⭐️⭐️
Love the information but enough with the memes/GIFS they are DISTRACTING!!!!
You NEVER OWED A DEBT TO ANYONE IN THE FIRST PLACE! DISCHARGE THAT SHIT!
😂😂😂😂😂😂😂😂😂😂😂😂😂😂finally someone….
But after I do that how do I get it off my credit