Charge Off

When a creditor notifies credit bureaus that it has charged off a debt, it means the creditor has given up on trying to collect an unpaid debt. A charge off is a negative mark on your credit report.

Do You Still Have to Pay Charged-off Debt?

Having debt charged off does not mean you no longer owe it. Typically, a creditor will turn over the debt to a collection agency. The collection agency will then pursue the debt. You owe the debt until its paid, settled, or discharged in a bankruptcy proceeding.

How Long Do Charge offs Stay on Your Credit Report?

Negative information, including charge offs, remain on your credit report for seven years.

Defining Charged Off, Written Off, and Transferred

July 18, 2016

Dear Experian, What are the definitions of charged off, written off and transferred? - CPL

Charged Off Debt Must Still Be Repaid

July 13, 2016

Dear Experian, What does it mean when Account Type/Status says "Charge Off"? Does this mean I no longer owe this amount? - ERS

Payment Plans and Charge Offs on Your Credit Report

August 7, 2014

Dear Experian, I have a charge off from 2009. I am in a payment plan. Does this mean I started the clock over on when the charge off will be...

Charged off Student Loans Still on Credit Report

July 17, 2014

Dear Experian, I have three student loans from about 12 years ago that where charged off. I paid them off in full two years ago, yet they are still reporting...

“Paid in Full” vs. “Settled for Less than Owed”

June 20, 2013

Dear Experian, If you have a charged off account, is it better for it to show "paid in full" or "settled for less?” - JMN

Collection and Charged off Account in Credit Report

February 28, 2013

Dear Experian, If an account is "charged off" and sold to collection agency, how can both accounts be used against you? My credit report shows two negative accounts. I owed...

Paying Off Account Will Not Restart 7 Year Timeframe

January 16, 2013

Dear Experian, If a charged off credit card is about to drop off and I pay it off, can the creditor restart the seven year time frame on my report? Thank...

Paying off Closed or Charged off Accounts

October 10, 2012

Dear Experian, Does paying off a closed or charged off account raise your credit scores? -TYC

What Does “Charge off” Mean on Credit Report

November 23, 2011

Dear Experian, What is a "charge off," and what does it mean? - TPA