charge off
charge off
English Definitions:
charge off (Noun)
A writeoff.
charge off
A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off.
charge off
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"charge off." Kamus.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.kamus.net/english/charge+off>.
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