@fabi87 wrote:
What is an account charge off and xxx amount written off mean.
A CO is an accounting move taken by a creditor when they cannot collect what is due, the amount written off is a tax loss to them.
@fabi87 wrote:
Is there a way that can be fixed
A COed account is always a COed account it can never again be a current positive account but the deficiency can be cured by paying the full amount that is currently owed, the amount reported may not be the current amount owed. The decision to pay a CO is based on many factors, whether its reporting every month or not, is it inside or outside states SOL, is one apping for a mortgage (all deficiencies that are reporting must be cured prior to closing on a home)