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In this video, Adam Jusko explains what a "charge off" means on a credit report. A charge off occurs when a borrower fails to pay a loan or credit card, leading the lender to conclude that they will not receive payment after a certain period. As a result, the lender writes off the unpaid balance as bad debt for tax purposes, indicating that they have given up on collecting the amount owed. Adam encourages viewers to subscribe to his channel for more insights and information on financial topics.