Greater Nevada Credit Union [GRTR NV CU CARS CY] 451 EAGLE STATION LANE CARSON CITY, NV 89701-0000 775 882-2060 Â© Copyright 2011 by Lane Guide Lenders Online, Inc. All Rights Reserved.
A charge-off is an item on the company's income statement that is not collectible and is subsequently written off the balance sheet. A charge-off is an item on the company's income statement that is not collectible and is subsequently written off the balance sheet.
Anytime a charge-off can be removed from your credit report it improves your overall credit profile. And any negative item (that can report for up to seven years on your report) that is removed from your credit report is always GOOD! You can check on the Statute of Limitations (SOL) for debt in your state.ost companies that have âcharged-offâ your debt have probably tried to collect it for 6 -12 months already before charging it off. Charge-offs can stay on your credit report for seven years from the date it was charged off.