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In this video, Adam Jusko explains the meaning of "charge off" on a credit report. A charge off indicates that a borrower has failed to make payments on a loan or credit card, typically after a certain period of time. Consequently, the lender—often a bank—decides that the borrower is unlikely to repay the debt and writes it off as bad debt for tax purposes. This means they acknowledge they cannot collect on the debt or consider it as recoverable. Adam encourages viewers to subscribe to his channel for further insights.