Sometimes life gets in the way and you find yourself in a financial mess. Whether it’s your irresponsible spending habits or poor budgeting, there will be consequences. It starts off with your first missed payment and then, before you know it, becomes six months of missed payments. When this happens, the creditor will assume that you’re unable to make payments and your account will be charged off. Continue to the article below to understand what this means for you and what actions you need to take.