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Is there a best approach to removing charge offs? I have 3 that are my only baddies, two of which have been settled. I would love to nuke them off my reports.
Unless you can show that the debt was not actually delinquent, or that for some reason the taking of the charge-off was premature under federal regs, the recourse is to request the creditor to delete the reporting as a good-will gesture.
The common credit reporting manual issued by the CRAs clearly instructs furnishers not to delete prior reporting based on payment of the debt. That policy is incorportated into their credit reporting agreements, and thus it is usually difficult to obtain good-will deletions based on having paid the debt. However, that policy is not a provision of law. Give it a try......
How old are they? What is going on with the one you haven't settled? How long ago did you settle? Was it with the original creditor or was it a collection agency?
The two that I settled were both settled through a collection agency. The collection agency deleted their record after I settled and the original creditor updated theirs, which seems weird because they both show as charge offs and say they were sold to another lender.
The one I haven't settled was charged off and never sold to a collection agency.
Write to the original creditor asking for them to delete.