Greater Nevada Credit Union [GRTR NV CU CARS CY] 451 EAGLE STATION LANE CARSON CITY, NV 89701-0000 775 882-2060 Â© Copyright 2011 by Lane Guide Lenders Online, Inc. All Rights Reserved.
A charge-off is an item on the company's income statement that is not collectible and is subsequently written off the balance sheet. A charge-off is an item on the company's income statement that is not collectible and is subsequently written off the balance sheet.
Charge-offs are one of the worst marks to have on your credit report and can make the approval process for credit even more difficult. To make matters even worse, if your creditor passes your charged-off debt onto a collection agency, you could be forced to deal with aggressive debt collectors.