Porsche's first fully electric electric production car, the Mission E, will be offered in three power levels, Britain's CAR magazine has learned. The fully electric sedan, due on sale in 2019, ...
What Is a Credit Card Debt Write-Off? When a credit card company decides that it has little or no chance of collecting a debt, it will write it off as a loss. Essentially, a credit card debt write-off is an accounting tool that allows the creditor to declare the debt a worthless asset and deduct it as a loss.
Many people mistakenly think when a debt has been charged-off that it's been cancelled by the creditor. This is not true. You are still responsible for paying off the debt. However, you will not be able to use your credit card to make purchases. Companies, including creditors and lenders, have profits and losses every year. They make money from profits and lose money from losses. When a creditor charges-off your account, it's declaring your debt as a loss for the company.