From Home Buying to Personal Loans, your Middle Credit Score is vital to the approval process. Decisions are made with your Middle Credit Score.
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Charge offs on a credit report can significantly impact a borrower’s credit score, making it difficult to qualify for new credit.
Charge offs can stay on a credit report for up to seven years, which can hinder a borrower’s ability to get approved for a home loan or rental property.
Creditors may be hesitant to extend credit to a borrower with a history of charge offs, making it challenging for them to secure financing for a home purchase or refinance.