Wiliam Mwangi

While on the surface of it, a credit card charge-off sounds similar to debt forgiveness, it is an entirely different prospect that is simply for accounting purposes on the lender’s balance sheet. The charge-off will be heavily detrimental to your relationship with lenders, but there are steps you can take to remedy the situation.

Related Article

Logo

Path Money would like to send you news and updates.

Notifications can be turned off anytime from browser settings.