Location. Located in Williamsburg, this family-friendly hotel is 0.4 mi (0.6 km) from Water Country USA, and within 6 mi (10 km) of Busch Gardens Williamsburg and Governor's Palace. Merchants Square and Quarterpath Park are also within 6 mi (10 km).
The term âcharge offâ means that the original creditor has given up on being repaid according to the original terms of the loan. It considers the remaining balance to be bad debt, but that doesnât mean you no longer owe the amount that has not been repaid. After an account is charged off by the original lender it is usually sent to a collection agency. The collection agency will then attempt to recover the remaining amount and potentially additional interest and fees.
The charge-off will remain on your credit report for seven years from the date it was charged-off. Paying the charged-off balance in full won't remove it from your credit report. Instead, it will be updated with a status of Charged-Off Paid if you paid in full or Charged-Off Settled if you settled the debt and the account will show a $0 balance.