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Charge off

What does it mean on a credit report when something will be charged off?

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Asked by Anonymous at 12:12 PM on Jul. 27, 2009 in Money & Work

Answers (2)
  • If I remember right, it means you didn't pay something off & they wrote it off as a loss - thus hurting your credit score. Call your bank, any loan officer can tell you for sure.

    Answer by Anonymous at 12:19 PM on Jul. 27, 2009

  • it means you didnt pay the bill and they wrote it off, it will be on your report for 7 years as a negitive item then it will drop off

    Answer by AmberMN at 11:59 PM on Jul. 29, 2009

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