The supporting cast includes Sean Young as ill-tempered Lois Einhorn, Udo Kier as the sinister Ronald Camp, and rapper Tone Loc as Ace's detective pal Emilio (Loc also wrote and performed a song for the closing credits). ~ Mark Deming, Rovi.
A charge off account is a tax and accounting maneuver done by a creditor. It means that they are reporting the debt as a loss on their income taxes so that they may claim it as a deduction from their income. A charged off debt does not mean that the creditor can't try to collect the debt in the future.
According to the credit reporting agency Experian, this is how it works: The debt starts as a current, never late account. As you get behind on the payments, it is typically reported as being 30, 60, 90, and then 120 days late. At that point the creditor is likely to charge off the debt. Its status will be changed to âcharged offâ and âsold to collections.â âCharged offâ and âsold to collectionsâ are both considered a final status. Although the account is no longer active, it stays on your credit report.