Charge-Off Removal Las Vegas Credit Repair - Vivix Credit Solutions Credit Repair Company - Bad Credit? We Fix it Fast?

FOR IMMEDIATE RELEASE
Las Vegas, Nevada, United States of America (Free-Press-Release.com) April 18, 2011 -- Vivix Credit Solutions is a licensed and bonded credit service organization that has successfully assisted Las Vegas clients with credit repair and correcting or removing charge-off accounts that contain inaccurate, questionable, and unverifiable information reported to the credit bureaus.

Although the credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate, mistakes or errors can and will occur and may affect your credit score.

A charge-off or chargeoff is the declaration by a creditor (usually a credit account) that an amount of debt is unlikely to be collected. This occurs when a consumer/debtor becomes severely delinquent on a debt. Traditionally, creditors will make this declaration at the point of six months without payment. In the United States, Federal regulations require creditors to charge-off installment loans after 120 days of delinquency, while revolving credit accounts must be charged-off after 180 days.

The purpose of making such a declaration is to give the bank a tax write-off on the debt. Bad debts and even fraud are simply part of the cost of doing business. The charge-off, though, does not free the debtor of having to pay the debt.

A charge-off is one of the most negative factors that can be listed on your credit report. The original creditor can legally collect on the debt for years (state law limits the length of time that a debt can be collected). In addition, the original creditor can then sell your debt to a collection agency who will then report the collection on your credit, leaving you with 2 derogatory notations on your credit file. Each notation can impact your credit score by up to 100 points, depending on your overall credit profile. These types of notations can remain on your credit for up to 7 years.

Depending on the aggressiveness of the collection agency or the original creditor, they may choose to file lawsuits against the debtor for unpaid accounts. These are generally called a Summons to Court and these can lead to judgments, wage garnishments and bank levies.

Vivix Credit Solutions in Las Vegas will perform a free consultation to review your credit report with you, determine the best credit repair program to meet your needs, provide you with pricing, and answer any questions that you may have about your credit, charge-off removal, and credit repair services.

Vivix Credit Solutions will also show you proof of the hundreds of Las Vegas clients who have received our credit repair services and will also show you proof of charge-off removals.

If you have a charge-off that is more than 7 years old and it has not been removed from your credit report, please contact our office for a free consultation with one of our Credit Experts to discuss how to remove the charge-off from your credit report. Vivix Credit Solutions can also assist you with:

• Late Payment Removal
• Foreclosure Removal
• Collection Removal

• Bankruptcy Removal
• Judgment Removal
• Repossession Removal
• Tax Lien Removal
• Inquiry Removal
• ID Theft Correction
• Credit Score

More information can be found online at http://vivixcreditsolutions.com

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