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.
Debt Charge-off. Before a creditor charges off a debt, it gives you every opportunity to make payments to bring your account current. Policies vary, but many creditors charge off your account after six months of consecutive nonpayment. At this point, the creditor writes off the debt as a bad-debt expense against an established reserve.