What does a charge off on a credit report mean ?

Question

What does a charge off on a credit report mean ?

Answer 1

you had a debt -- the company decided you were a loser so they wrote it off -- now it will stay on your report for 7 years as a black mark -- but some third party may not think you a loser and might buy the debt and reopen the debt and so it may stay on you record and drag down you score even longer!!!

Answer 2

It means that there is a bill you didn't pay and the company you owe the money to wrote off the debt.  Usually the company will not try to collect, but the bad credit will remain on your credit report for up to 7 years.

Answer 3

If you're worried about your credit report you can check it for free on this site..