Credit Card Debts and Charge Off – What it Means to You
The term charge off describes an accounting function followed by your lenders. When speaking of revolving consumer credit card accounts, a charge off occurs when the credit issuer either chooses to, or must, recognize an unpaid loan balance as a loss. Losses are bad news for lenders. The bad news gets reported and can affect … Continue reading Credit Card Debts and Charge Off – What it Means to You
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