What Kind of Letter Would You Need From a Company to Delete a Charge Off From Your Credit Report?

Credit card company charge-offs occur when a credit card issuer deletes a defaulted account from the company's business ledger. The credit card company then reports the charge-off to the credit bureaus via its computerized reporting software. The negative report serves as a warning to other companies that the debtor may conduct financial business with. In certain situations, a consumer can have a charge-off deleted from his credit report.

Error Acknowledgment Letter

If your credit card company charged off your credit card account by mistake, you can ask that the company investigate the situation and reinstate your account. Should the credit card company acknowledge the error in writing, you can then send a copy of the company's letter detailing its mistake to the credit bureaus whose files reflect the charge-off. The letter serves as documentation that the charge-off is inaccurate and should be removed.

Direct Disputes

You do not have to file a formal dispute with the credit bureaus to have your incorrect charge-off remedied within your credit records. Information providers have the right to alter any information they previously inserted on your credit report. In addition, by filing a dispute directly with the credit card company, the company will investigate your account in an effort to discover whether or not your account was charged off in error. After uncovering its error, the credit card company will correct your credit records. You do not need a formal letter from another company to dispute a debt directly with the creditor that reported it.

Identity Theft

Identity theft occurs when another individual applies for credit in your name --- essentially stealing goods and services using your good credit history. The Fair and Accurate Credit Transactions Act notes that identity theft victims are entitled to special services when it comes to their credit information. You must visit your police precinct and report the incident. The station will then provide you with an identity theft report. Send a copy of the identity theft report to each credit bureau along with copies of the credit reports that contain any negative data related to the theft, such as the charge-off. The credit bureaus will then block the negative information from appearing when third parties pull your credit report.

Considerations

Although providing supporting documentation when you contest credit errors helps you rectify the damage derogatory entries do to your credit record, supplying the credit bureaus with such letters is not required. You have the right to dispute information you suspect is incorrect without providing any proof of your claims. The Fair Credit Reporting Act requires that each credit bureau investigate all consumer complaints regarding inaccurate credit information and correct the data accordingly.