Sauté chopped peppers and onion in oil over medium high heat until tender, then set aside.

Cook ground beef in the same pan until browned, season with salt and pepper, then drain excess fat if needed.

Return vegetables to the pan, add cream cheese, ketchup, Worcestershire sauce, garlic powder, water, salt, and pepper, then cook until thick and bubbling.

Turn off heat, add shredded cheese and stir until melted and combined.

Spoon onto toasted buns and add extra cheese if desired before serving