What is a Charge-Off?
A charge-off means the lender has given up on collecting the debt and written it off as a loss. It appears on your report with Status: Written Off/Charged Off and DPD: 180+.
Step 1: Pull Your Full CIBIL Report
Get it from CIBIL.com, bank apps, or sign up for a free audit from CredAnchor across all 4 bureaus.
Step 2: Check for Errors (Dispute Route)
Common errors include:
- Wrong date or amount
- Duplicate entry
- Already settled account
- Not your account
- Wrong lender reported
Filing disputes is crucial. Learn more about our dispute filing service.
Step 3: Pay-for-Delete (Negotiation Route)
Find who owns the debt, offer a 30-40% settlement, get a written agreement, pay, and verify.
Need help negotiating? We can assist with creditor negotiations.
Step 4: Goodwill Letter
For legitimate settled charge-offs, this works best with smaller banks or NBFCs.
Step 5: Build Positive Credit in Parallel
Use secured cards and maintain on-time payments. Leading banks offer great options.
Explore our credit building service for more.
How Long Does Removal Take?
- Dispute: 30-45 days
- Pay-for-delete: 2-8 weeks
- Goodwill: 4-8 weeks
Can CredAnchor Help?
Yes, we charge per trade line with a full refund if the dispute fails.
Get a Free Credit Audit to begin.
FAQ
Are charge-offs permanent?
No. Depending on the method you use, a charge-off can often be successfully removed from your report.
Think something on your report is wrong?
Our audit is free and we price per trade line — not per month. If a dispute we file doesn't resolve in your favour, you get that fee back.