A charge-off is a serious credit report entry that damages credit scores, stays for seven years, impacts loans and credit cards, and requires disciplined repayment to rebuild financial health.

When borrowers fail to make timely payments on loans or credit cards, banks can take one of the most serious actions against them—charging off the account. A charge-off is often seen as the biggest ...

Natalie Campisi is a senior journalist who covers personal finance, balancing timely news with in-depth enterprise reporting. Her mission is to make complex financial issues clear and accessible for ...

U.S. credit card delinquencies, or accounts where borrowers have missed payments, barely budged in August, while net charge-offs, the loans banks have to write off as uncollectible, drifted higher.