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.
It is one of the most damaging items on a credit report that can negatively affect your credit score. Lenders are required by law to report charge off accounts and it allows them to close out the accounts for accounting reasons. The good news is that you can remove a charged off account but you will need help from a good law firm that can help you settle and clean up your credit report.