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What Charging Off Bad Debt Really Means

If your debt has been charged off by a credit card company or financial institution, you are still legally obligated to pay it.
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What Charging Off Bad Debt Really Means
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Anne Johnson
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You’re behind on your credit card payment and have just learned the debt has been charged off by the issuer.

That might sound positive. But it’s not a time for celebration. You’re still responsible for paying your debt.

Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.