Payday loans?

Internet or store front loans?

What difference does it make if the loans are storefront or internet? All a "charge off" does is allow the lender to declare the loan a loss for tax purposes. It's just an accounting too. It doesn't change whether the borrower still owes or prevent the lender from selling the debt or trying to collect himself. It only changes how he has to declare the revenue for tax purposes if he DOES collect any part of the debt after the chargeoff.