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, or must, recognize an unpaid loan balance as a loss. For lenders, losses are bad news. The bad news gets reported and can affect anything … Continue reading Credit Card Debts and Charge Off – What it Means to You