A charge-off is when a lender writes off your account as a loss and closes the account for further use. You are still legally responsible for the balance that is charged off. The lender may transfer ...

Yes, a creditor or lender can still sue you after a charge-off, and they often do. That's because a charge-off is primar ...

If you’ve pulled your credit report and spotted the term “charge-off,” you might’ve panicked and honestly, that’s a normal reaction. It sounds harsh, and it can have a real impact on your financial ...

Knowing the timeline between charge-offs and collections can help you take action before the issue gets worse.

Bad debt can also affect your credit. Your credit utilization, which is the percentage of your available credit that you're using, plays a major role in your credit score. High balances and maxed-out ...