Beginner’s Guide: Understanding Charge-Off Accounts

Sometimes reading your credit report can be incredibly confusing. One of the most confusing phrases you can find on a credit report is “Charge-Off.” I remember the first time I was looking over my credit report and saw charge-off, I had no clue what it even meant. If you have struggled at any time in your life to make payments on time, there is a good chance you may have an item on your credit report that has those two infamous words.