Joe DiMaggio was one of the best all-round baseball players in the history of the game, helping the New York Yankees to nine World Series titles.
The creditor is the one who reported the charge-off, and so it is he who can remove it once the debt gets paid. If you want to remove the charge-off on credit report, you will have to talk to the original creditor about the payments and request that he pulls back the account from the collection agency. However, this will depend on whether or not the account has been sold off.
Most lenders and creditors write off an account as a bad debt six months after it becomes delinquent. That doesnât get you off the hook for paying the money you owe, as the debt will appear on your credit report as a charge-off. The creditor can then turn the account over to a collection agency. Although settling an old debt can lower your credit score, it is smart to pay off the debt if you want to apply for a home loan.