what does charge off stand for in the status of a particular

Submitted by ygonzalez29 on Wed, 05/04/2011 - 04:17
Forums

i just recently received a copy of my credit report, i have a particular account that has been paid off however in the status it reads CHARGE-OFF WHAT DOES THIS MEAN PLEASE.

Perhaps you have become delinquent on one of your credit cards. Your creditor has declared that the debt amount is unlikely to get collected. However, if you don't agree with a negative listing, you have the right to get it disputed.

Mon, 05/09/2011 - 13:01 Permalink