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What is the meaning of the phrase 'charge-offs'?

Updated: 8/20/2019
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10y ago

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The phrase "charge-offs" is the announcement by a creditor that an amount of debt is unlikely to be collected. This process often develops when a consumer becomes severely delinquent on their debt.

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10y ago
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Q: What is the meaning of the phrase 'charge-offs'?
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