By: Patricia Briggs
Currently, millions of Americans have their finances wrecked up by downsizing, job loss, foreclosure and other financial setbacks and are compelled to [...]

What banks and bill collectors call a “charge-off” is the point at which the creditor writes off the account balance as a “bad debt.” It usually happens after six months of non-payment. After that, they no longer count it on their books as an asset. You still owe the money, of course. And they will [...]