- One Charge-off account can take up to 150 points off an excellent credit score. The higher your score was to start with, the greater the damage will be.
- Once a charge-off is on your credit report, it will remain there for seven years from the date it was charged off.
- Future creditors and lenders may deny any future credit card and loan applications, if they see a charge-off on your credit report.
Call or email us today if you have questions.