chargeoff
Uncollectible debt declaration
A chargeoff is a debt that a creditor has declared uncollectible and written off as a loss for accounting purposes.
The term appears most often in banking and credit reporting: The credit card chargeoff stayed on her report for seven years.
A chargeoff doesn't erase the debt—creditors often sell it to collection agencies who continue pursuing payment.
Also written charge-off.
Preset standard option
- delinquencyCriminal or neglectful behavior
- nonpaymentFailure to settle debts
- uncollectibleImpossible to claim payment
- arrearsOverdue financial obligations
overdue · unpaid · collections · recovery · creditor · borrower · debtor · settlement
Fixed periodic payment
- provisionPreparatory supply or clause
- reserveSupply kept back
- reconciliationRestoration of friendly relations
- accrualIncremental addition over time
Creditworthiness rating system
- ExperianCredit reporting company
- EquifaxConsumer credit monitor
- TransUnionCredit reporting company
- derogatoryExpressing criticism or disrespect
Gathered groups of items
- settlementResolved dispute or colony
- negotiationDiscussion seeking mutual accord
- repaymentGiving back what's owed
default
Preset standard option
- delinquencyCriminal or neglectful behavior
- nonpaymentFailure to settle debts
- uncollectibleImpossible to claim payment
arrears · overdue · unpaid · collections · recovery · creditor · borrower · debtor · settlement
allowance
Fixed periodic payment
- provisionPreparatory supply or clause
- reserveSupply kept back
- reconciliationRestoration of friendly relations
accrual · adjustment · bookkeeping · audit
FICO
Creditworthiness rating system
- ExperianCredit reporting company
- EquifaxConsumer credit monitor
- TransUnionCredit reporting company
collections
Gathered groups of items
- settlementResolved dispute or colony
- negotiationDiscussion seeking mutual accord
- repaymentGiving back what's owed
chargeoffcollection
Gathered set of items
recovery · repayment · current account · good standing · on-time payment
chargeofffull recovery
Return to prior health
debt recovery · settlement · payoff · reinstatement · collection
charge, off, charged, charges, charging, charger, chargers, chargeable, recharge