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.
A charge-off occurs when you are seriously delinquent in paying an account. Typically, an item is only listed as a charge-off on a credit report once itâs over 180 days late. In simple terms, when one occurs, your creditor lists the account as not being collectable.