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The Nexus
BUSINESSMay 20 · 15:44 UTCCBS NEWS

What happens when your unpaid credit card debt is charged off?

A credit card charge-off does not eliminate debt, it is a step taken by creditors when a payment is severely overdue. The charge-off is reported to credit bureaus and can negatively impact credit scores. Debt collection efforts may continue after a charge-off.

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