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Glossary and terms about credit cardsHome » Credit Card Glossary
Charge-off
A charge-off is a debt that has been determined uncollectible by the original creditor, usually after the debtor has become seriously delinquent. Typically charge-offs occur after six months of non-payment. In general, companies make an estimate of charge off expenses that might be incurred in the current time period based on past records as part of the process of estimating earnings. Most companies make a charge off allowance since it is unlikely that all of their creditors will pay them in full. also called bad debt.