What are charge-offs?
A. Charge-offs are very common and there are three different types. Unpaid, paid and obsolete. Paid and unpaid charge-offs that are 3 years or older are most commonly removed with a dispute request to the credit bureau because of age. Paid and unpaid charge-offs that are less than 3 years old are usually more difficult to get removed unless the credit bureau violates procedures. Either case, the credit bureaus must remove them if they’re 7 years or older from the date of last activity.
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