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If your debt is still with the original lender, you can ask to pay the debt in full in exchange for the charge-off notation to be removed from your credit report. If your debt has been sold to a third party, you can still try a pay-for-delete arrangement.
The debt dispute letter should include your personal identifying information; verification of the amount of debt owed; the name of the creditor for the debt; and a request the debt not be reported to credit reporting agencies until the matter is resolved or have it removed from the report, if it already has been
If your debt is still with the original lender, you can ask to pay the debt in full in exchange for the charge-off notation to be removed from your credit report. If your debt has been sold to a third party, you can still try a pay-for-delete arrangement.
There are some tips to consider before you write your letter:Communicate directly with the original creditor.Be kind and respectful.Explain why they should remove the charge-off, whether it be a mistake or you plan to pay an amount.Do not make excuses as to why you didn't pay the account in the first place.More items...?
If the lender hasn't sold the account, you can offer to pay the debt in full in exchange for the charge-off note to be removed from your reports. Some debt collectors may offer to remove the charge-off note from your credit reports this is sometimes known as a pay for delete offer.