Re: In Denial

Posted by LadynRed (199.91.33.254) on March 28, 2003 at 18:13:23:

In Reply to: In Denial posted by bad credit on March 28, 2003 at 17:57:01:

"Charged-off" is an accounting term. Basically it means they've given up on collecting from you themselves and wrote it off their books (profit/loss). Charge-off/Profit-Loss are the same thing, basically. Once that happens, these accounts usually go to collection agencies, who will make their own entries to your credit report. Those will show up as 'collections'.

As for the other one, have you been paying or made payments to a collection agency ? All that means is that the CA has it and you've paid them something, or so it appears.

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