Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
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I am sorry to read about your difficulties.
A charged-off debt does not mean that the debt has been forgiven. It only means that the debt has been noted as a bad debt in the creditor's books. The credit can still decide in the future to attempt to collect the debt; sell the debt to a debt buyer, who would then turn around and contact the debtor to try to collect the debt.
If the debt has been disputed, then the Credit Reporting Agencies ("CRAs") pursuant to Fair Credit Reporting Act has up to 45 days to investigate the dispute and get back to you. If the dispute is resolved in your favor the derogatory information would either be deleted or updated in your favor.
If you are alleging that the CRAs did not conduct propert investigation, you can file a dispute again. You can also file lawsuit agaist the CRAs to force them to remove the information from your credit file. A lawduit unfortunately, would not be resolved immediately and may take up to a year to resolve thereby delaying your loan approval.
You can use the following sites to find local consumer Attorneys to assist you with the case:
Goodluck with your case,