Charged off to bad debt
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Posted by ah_for_better_credit (65.227.53.83) on March 31, 2003 at 09:33:06:
What does it mean when your credit report shows an item charged off to bad debt? It sounds to me like that means the company has given up on trying to get their money from you (or, in this case, me), but I can't find a definition anywhere online (which makes me think it should be obvious). Am I right? Is that money no longer owed because the company has given up on hunting down their debt? I assume a charged off to bad debt mark on your credit report is bad - how bad is it? Is it possible to still pay it off and redeem your credit somewhat? Thank you much,
Confused
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