Do you have a credit card bill that has gotten to the point where they are going to charge it off? The biggest question you may have is whether or not having the charge-off will affect your credit score. The truth is your bill is already delinquent and chances are your credit score has already taken a hit. The best thing to do is to focus on how you can repair the situation as best as possible because your goal is to have a great credit rating and from time to time we all have problems with our credit score.
The debt that you have may be written off by the creditor but it is still a debt that the creditor will sell to another collector for a large discount. What usually will happen is that you will receive harassing call from the creditor who has just purchased your debt for 15% of what is owed. So what they want to do is collect 20% or more and they just have made money and this keeps going on and on.
A important fact to know is that after the last payment you have made on the debt any creditor has 4 years to collect on any debt from you. After the 4 year period they can not harass you or contact you in any way you can sue them for this in many states.
The best thing to due if facing a Charge-off debt is to move forward and start to repair the damage as soon as possible. It is always great to become debt free and sleep at night.