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In this video, Adam Jusko explains what a "charge off" means on a credit report. A charge off indicates that a borrower has failed to pay a loan, typically a credit card, and after a certain period, the lender concludes that the debt is unlikely to be collected. Consequently, the lender writes off the loan or credit card balance as bad debt for tax purposes. This means they can claim it as a loss, signifying that they have essentially given up on collecting the outstanding amount. Adam encourages viewers to subscribe to his channel for more information on financial queries.