6 shifts in car shopping

Can I dump a "charge off" from my record?

Dear Terry,
Six years ago, I co-signed for a relative on a brand new automobile. The relative agreed to make all the payments on the vehicle, but moved out of state after six months, took the vehicle and subsequently stopped making the payments.

Eventually, the creditor came after me for the money. I tried to get the relative to return the vehicle, but was unsuccessful. Shortly afterward, the vehicle was totaled in an accident and the creditors have been harassing me for the money ever since.

My relative filed for bankruptcy just before the accident and a charge off has been on my credit report for the past six years. How do I remove this from my credit report? The amount is well over $16,000 and I don't have that kind of money. My relative has virtually disappeared underground and has left me with the bill. What can I do?
-- Clint

Dear Clint,
Generally, bad debts remain on your credit report for at least five years. You should contact the credit reporting agencies to see if the default can be removed.