Is it possible to LEGALLY remove a charge off from my credit report by disputing it as "not my account"? I have heard that is is and that a lot of people try to do it. Today I was told by a potential lender that by disputing it the creditor might restart the collection process and even take me to court for FRAUD for claiming it was not my account. He also said that he could do the dispute over the phone or online and know wiht in 24 hours where it might take me months. I have also heard a charge off "drops off" a credit report in about 7 years, but that I would still be liable for the money owed basically untill I die unless I settle with them, pay it , or file bankruptcy. I am trying to get a cash out refi mortgage, and it is turning out to be impossible unless I allow the lender to pay the charge off out of the cash I get. Anybody out there have any thoughts on this?
Read this it answers a lot of your questions and helps clear up some of your misconceptions. *************** GET THE BASICS HERE. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ***************** > sounds like the enemy has been handing you you a line of BS
