HUGE Secret! HOW TO DELETE EVERY CHARGE-OFF FROM YOUR CREDIT REPORT! FREE MONEY!

In this video we talk about how to properly attack a Charge Off on your credit report and walk you through step by step on how to Delete A Charge Off. Also how to build a case for a possible lawsuit if the credit reporting agencies report inaccurate information.
#creditrepair #credit #creditrepairhack #chargeoffs

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Disclaimer: I am not a financial advisor. Limitless Culture and/or Mike The Credit Guy does not provide tax, legal or accounting advice. This material has been prepared for entertainment purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

[ashley]

I have been following this process… what would you do if the original creditor responds saying they will set up a payment plan?

[yonderisgone]

I apologize in advance if this is a stupid question, but I don't know the answer. If I purchase Credit Beast, your credit repair tool, does it do what you've described in this video?Thanks!

[saias.]

I learned 75% more from just watching 2 of your Videos than watching over 30 Credit Repair Videos from other YT postings, Thx, ....

[toni-annmattis]

What if you dont receive the 1099 but still wants you to pay even though it states charged off

[RenWilli]

I was told canceled debt counts as income in most cases, which means it must be reported to the IRS. So when you file a 1099 know your taxes will be owed.

[ericjones]

Thanks for the right information u been doing my disputes all wrong smh now gotta fix my mess from other videos thanks

[sheneeta]

People you have to do your research. Everything Mike is saying is not totally accurate. The form 982 (depending on the IRS’s decision) reduces your tax liability but doesn’t forgive the entire debt. Example say you have $20K in debt & your debt is $27K, then subtract $20K from $27K & now you have $7K negative worth. You owe more than your worth. Therefore your insolvency is $7K. So the IRS decides to cancel $10K worth of debt, now subtract 7K from 10K =3K. You now have to pay taxes on 3K. Since you would be insolvent the IRS will allow you to roll your tax liability of 3K over a period of several years. So imagine if you have multiple charge offs. You will still owe the debt but not all of it. You sauce on taxes but the debt is not totally forgivable.

[Borobobby]

What if its a local credit union? Same?

[hiphoppreacherreal]

I love you Mike for teaching me the correct way to dispute. I am following you and will go through with your DIY and then the Lawyer dispute.

[FrontPageFlash]

I would like to add what I learned... 1st, a lot from Mike! 2nd. that there is a BIG difference in terminology here. Chase/CapOne do NOT give 1099s for "Charge-Offs". They give a 1099 for "Write-Offs". So I cannot get a 1099 for a charge-off. It is still cookin' the books (credit report) so to speak. So no 1099 for me. The plan seemed solid. Did I miss something?

[Twin]

What if you don't receive a 1099? What do you do next?

[Jeff-gtxu]

Make sure that you go to your bank and get all that correspondence notarized for free (if your bank does that; change if they don't) AND DUPLICATES TOO, and then file one set with your county clerk's office so that your correspondence becomes facts to the case (because you added them to the suit when you filed it) and not just testimonial hearsay.

[darleneharris]

Hi stumbled on to your videos get information. Will be in touch 😀 to fix my mess. By the way what’s up with the spinning shoe 👟?

[srjackson]

Financially to sue is costly. Great info, though,

[estwayalex]

Hey mike I just had a question. When I sent this letter to the “Creditor” Do I have to put the account name, account number and balance on the letter, or just the name and address is okay for the creditor to verify who is sending the letter ?

[estwayalex]

If I get my 1099 from the creditor, file 982 of insolvency and the debt is distinguish then can I mail the credit bureaus, and “include” and tell them that the debt has been extinguished through the creditor and IRS ?

[egon]

Could we get the 1099 form from the IRS?

[MikeTheCreditGuy]

➡️ Set up Free Credit Analysis and Mike will let you know what program you Qualify for.



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🚨We will never ask you to email us. We have trusted links in our video description for booking a consultation and the for DIY program and for any products we talk about. We do not support or represent any scammers in the comments promoting any credit repair people. Do not respond to anyone promoting credit repair they are all scammers.

[sakidickerson]

Does your credit Beast follow these steps for charge-offs as well

[alexandriab.]

How does this process work if the charge off account was a joint account with me and my husband? Do I just include his name and info on the same letters/correspondence or he has to send separate letters/correspondence to the creditors and credit reporting agencies?