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Charge-Off Tabs
Charge-Off Tabs is a 14-page legal document that was released by the U.S. Small Business Administration on July 3, 2019 and used nation-wide.
FAQ
Q: What is a charge-off?A: A charge-off is when a creditor writes off an unpaid debt as a loss.
Q: Does a charge-off mean the debt is forgiven?A: No, a charge-off does not mean the debt is forgiven. You are still responsible for repaying the debt.
Q: How does a charge-off affect my credit?A: A charge-off will have a negative impact on your credit score and will stay on your credit report for up to 7 years.
Q: Can I still be sued for a debt that has been charged off?A: Yes, a creditor can still sue you to recover the debt that has been charged off.
Q: What are my options for dealing with a charged-off debt?A: You can try to negotiate a settlement with the creditor, set up a repayment plan, or seek assistance from a credit counseling agency.
Form Details:
- The latest edition currently provided by the U.S. Small Business Administration;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
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