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Debt Consolidation Forums Creditors and collection agencies address book forums

What does account charged off mean?

Date: Mon, 06/18/2012 11:31
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I'm trying to pay off my account with GE but I called moved over to 5-6 different offices. Got a remark by one representative that the account was charged off what does that mean?




It means they gave up hope of recovering payment from you and wrote off the account. Generally it's sold to a collection agency after this happens.

Sub: #1 posted on Mon, 06/18/2012 - 13:08

OhioGal1 OhioGal1
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