Listen to a Business English Dialogue about Charge off
Nathaniel: Hi Samantha, have you heard of a charge off in finance?
Samantha: Yes, Nathaniel. A charge off happens when a lender gives up on collecting a debt and considers it unlikely to be repaid.
Nathaniel: Right, it’s when the lender writes off the debt as a loss, but it doesn’t mean the borrower is off the hook. They still owe the money, but it’s no longer considered an asset by the lender.
