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Consumer Credit Protection Act: Congress passed these laws to protect you — the FCRA, FDCPA, CROA, ECOA and TILA are all part of it.
FCRA § 611: You have the right to dispute inaccurate or incomplete information, and the credit bureau generally must investigate within 30 days — free of charge.
FCRA § 605: Most negative information must come off your report after 7 years. Most bankruptcies: 10 years.
FCRA § 605B: Identity theft victims can have fraudulent accounts blocked from their credit reports.
FCRA § 612: You are entitled to free copies of your credit reports at AnnualCreditReport.com.
FCRA § 615: If you are denied credit because of your report, you must be told and told which bureau was used.
FDCPA § 809: Dispute a debt in writing within 30 days and the collector must stop collecting until it verifies the debt.
FDCPA § 805: You can tell a debt collector in writing to stop contacting you.
FDCPA § 806–807: Debt collectors may not harass you, threaten you or lie to you.
CROA § 404: No credit repair company may charge you before its services are fully performed.
CROA § 407: You have 3 business days to cancel a credit repair contract without penalty.
ECOA: Creditors may not discriminate against you for race, color, religion, national origin, sex, marital status, age, or receiving public assistance.
TILA: Lenders must clearly disclose the true cost of credit — including the APR — before you sign.
SCRA: Active-duty servicemembers can cap interest at 6% on many debts taken on before service.

Consumer Credit Protection Act: Congress passed these laws to protect you — the FCRA, FDCPA, CROA, ECOA and TILA are all part of it.
FCRA § 611: You have the right to dispute inaccurate or incomplete information, and the credit bureau generally must investigate within 30 days — free of charge.
FCRA § 605: Most negative information must come off your report after 7 years. Most bankruptcies: 10 years.
FCRA § 605B: Identity theft victims can have fraudulent accounts blocked from their credit reports.
FCRA § 612: You are entitled to free copies of your credit reports at AnnualCreditReport.com.
FCRA § 615: If you are denied credit because of your report, you must be told and told which bureau was used.
FDCPA § 809: Dispute a debt in writing within 30 days and the collector must stop collecting until it verifies the debt.
FDCPA § 805: You can tell a debt collector in writing to stop contacting you.
FDCPA § 806–807: Debt collectors may not harass you, threaten you or lie to you.
CROA § 404: No credit repair company may charge you before its services are fully performed.
CROA § 407: You have 3 business days to cancel a credit repair contract without penalty.
ECOA: Creditors may not discriminate against you for race, color, religion, national origin, sex, marital status, age, or receiving public assistance.
TILA: Lenders must clearly disclose the true cost of credit — including the APR — before you sign.
SCRA: Active-duty servicemembers can cap interest at 6% on many debts taken on before service.

Credit problems

Charge-Offs on Your Credit Report

A charge-off is an accounting step the creditor takes — not a pardon, and not a life sentence. What matters for your report is whether it is reported accurately.

By Richie Barrett · Published September 26, 2026

What “charged off” means

Creditors typically charge off an account after about 180 days without payment. They write the balance off as a loss on their own books, but you may still owe it. The creditor may keep trying to collect, place it with a collector, or sell it to a debt buyer.

How long it can be reported

Under FCRA § 605, a charged-off account can generally be reported for 7 years, beginning 180 days after the delinquency that led to the charge-off began. Paying the account, settling it or selling it does not extend that period.

How a sold charge-off should look

If the creditor sells the debt, the original account should show that it was transferred or sold, with a $0 balance. The new owner may report its own collection account with the balance. When both show a balance, your total debt looks larger than it is — that is inaccurate reporting you can dispute.

Charge-off errors to look for

A balance on the original account after the debt was sold
Late payments reported every month after the charge-off date
A wrong date of first delinquency or charge-off date
A “high balance” or credit limit that doesn’t match your records
A settled or paid account still showing an unpaid balance
Different dates or balances on different bureaus for the same account

Your options

Dispute inaccurate details with each bureau (FCRA § 611) and with the creditor or debt buyer that reports it (FCRA § 623). If you are considering paying or settling, first confirm who owns the debt, then get the terms — including how it will be reported — in writing.

Sources: Fair Credit Reporting Act, 15 U.S.C. §§ 1681c(a)(4), 1681c(c), 1681e(b), 1681i, 1681s-2.

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Common questions

Is a charge-off the same as a collection?

No. A charge-off is the original creditor’s status for the account. A collection is a separate account reported by a collector or debt buyer. Both can appear, but only one should show a balance.

Will settling a charge-off remove it?

Settling usually changes the status to settled or paid, but the account can still be reported for the rest of its 7-year period.

Know where to go — the credit bureaus and the agencies that protect you

Links go to each organization’s official website. Kaironeek Financial is not affiliated with or endorsed by any of them.