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credit report wording

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<blockquote>Originally posted by walfam

Account was closed because of Charge Off


Cancelled by Credit Grantor



Yes.. it means the creditor closed the account, not you

Unsecured refers to credit cards

Charge-off means they wrote it off as a bad debt, its purely an accounting mechanism and they get a tax write-off. It also means it was most likey assigned or sold to a collection agency.

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