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Charge-off

Charge-off

Charge-off (sometimes called "write-off") is an accounting term used by creditors when they move a delinquent account from its accounts receivable books to its bad debt ledger. This usually occurs between 180 and 240 days from the date of the last payment. Charge-offs are noted on your credit report. Collection efforts continue after charge-off, though the debt may pass into the hands of a third-party debt collector.

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