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aosteen1

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What does charged off as bad debt and profit and loss write off mean?
My account as been closed since 2012 and has been charged off but in the remarks it states charged off as bad dect and profit and loss write off on my student loan account? what does that mean?

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Charge off bad debt profit and loss

What does it mean when a credit union closes your automobile account for a voluntary repo and call it a charge off/ bad debt profit and loss write off and what are the next steps do they take after this what can I expect

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Your student status is never up in life and I advise taking the time to read the articles here since teaching about credit is the primary focus of Credit Karma.  Basically what the remarks mean is that you are a poor credit risk who was not repaying the loan, they got tired of trying, and cut their losses with the write-off. But, if these were federally subsidized loans, you may be hearing from one of the numerous collection agencies assigned to collect on these loans which remain payable until paid off.

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