Charge-off
A charge-off is when a lender writes off an unpaid account as a loss, usually after about 180 days late.
How it shows up on your credit report
A charge-off does not mean the debt disappears — it is still owed and it hurts your score. If a charge-off on your report is inaccurate or cannot be verified, it can be disputed.
Not sure how this affects your score? We'll walk through your report with you.
Mesa Group Consulting helps Bakersfield and Kern County families read their credit reports and dispute what is wrong, in English, Spanish, and Punjabi.
Related terms
Collection account
A collection account is a past-due debt that has been sent or sold to a collection agency.
Derogatory mark
A derogatory mark is a serious negative item on your report, like a late payment, charge-off, or collection.
Delinquency
A delinquency is a missed or late payment, usually reported once you are 30 or more days past due.