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chargeoff question


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Posted by JC (209.62.199.112) on June 12, 2002 at 01:08:26:

Once a OC has classified a debt as "charge-off" what happens? Does this mean basically I can just wait out the 7 years and this will just fall off my credit report? I was told this by a "friend" and it sounds a bit unusual to me.


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