How to Find Charged-Off Accounts on Your Credit Report

A charged-off account is a debt an original creditor has written off as a loss after prolonged non-payment, typically 120 to 180 days. This does not forgive the debt; the obligation to repay remains. Charged-off accounts significantly impact your credit profile and future borrowing.

Accessing Your Credit Reports

The first step is obtaining your credit reports. You are legally entitled to a free copy once every 12 months from Equifax, Experian, and TransUnion via AnnualCreditReport.com. To access them, provide personal identifying information like your name, address, date of birth, and Social Security number, and answer security questions. Once verified, you can view or download your reports.

You can request all three simultaneously or stagger them throughout the year for more frequent monitoring. Weekly free reports are also available through AnnualCreditReport.com. Alternatively, request reports by phone at 1-877-322-8228 or by mail using the Annual Credit Report Request Form; mailed requests take about 15 days.

Identifying Charged-Off Accounts on Reports

Once you have your credit reports, examine each section for charged-off accounts. Creditors use terms like “charged-off,” “written off,” or “bad debt” next to the entry, indicating the debt is removed from their active accounts. This information is typically in the account status or payment history section, showing the original creditor, charge-off date, and last reported balance. Even with a zero balance, the charge-off remains a negative mark.

The Fair Credit Reporting Act (FCRA) allows negative information, including charged-off accounts, to remain for up to seven years from the date of original delinquency, not the charge-off date. If the debt was sold, a separate collection agency entry may appear, with the original charged-off account showing a zero balance and the new collection account showing the outstanding amount.

Other Ways to Discover Charged-Off Accounts

Beyond credit reports, you may discover charged-off accounts through communications from debt collection agencies. Creditors often sell charged-off debts to third-party agencies, who then attempt to collect the amount owed. The Fair Debt Collection Practices Act (FDCPA) requires debt collectors to send a written debt validation letter within five days of their first communication. This letter must include the debt amount, original creditor’s name, and your right to dispute the debt. Receiving such a letter indicates a debt, possibly charged-off, is being pursued.

Reviewing old financial statements or records, such as past billing statements or loan agreements, can also reveal previously charged-off debts by showing accounts with ceased payments or significant delinquency.