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Charged off as bad debt canceled by credit grantor. True or False

User Aliassce
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1 Answer

5 votes

Answer:

"Charge off" means that the credit grantor wrote your account off of their receivables as a loss, and it is closed to future charges. When an account displays a status of "charge off," it means the account is closed to future use, although the debt is still owed.

TRUE!

User Yongjun Lee
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