A charge-off generally means a creditor has moved an account to a loss category on its own books after a period of non-payment. It is an internal accounting classification.
The obligation itself does not vanish, and the account may later be placed with a collection agency or sold.
What we review
Balance figures, status, date of first delinquency, and whether related collection reporting is consistent with the charged-off account.
This article is educational and is not legal advice. Fred Livai Financial does not guarantee deletion of information, a particular credit score, or approval for credit or financing.