A charge-off is a serious credit report entry that damages credit scores, stays for seven years, impacts loans and credit cards, and requires disciplined repayment to rebuild financial health.

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 ...

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 ...

Natalie Campisi is a senior journalist who covers personal finance, balancing timely news with in-depth enterprise reporting. Her mission is to make complex financial issues clear and accessible for ...

With identity theft and fraud on the rise, it's essential to monitor your credit report for signs of fraud. If you've been scammed, you'll need to contact your local police, the FTC, all three credit ...

Credit card lenders wrote off $46B in seriously delinquent loan balances in the first three quarters of 2024, a 50% jump from the same period a year ago, according to a media report citing data from ...

U.S. credit card delinquencies, or accounts where borrowers have missed payments, barely budged in August, while net charge-offs, the loans banks have to write off as uncollectible, drifted higher.