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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. Collection efforts will continue after charge-off, though the debt may pass into the hands of a third-party debt collector.

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