If a debt shows on your credit report as "unpaid balance reported as a loss by the credit grantor", does that mean that you no longer have to pay the money?
If a debt shows on your credit report as "unpaid balance reported as a loss by the credit grantor", does that mean that you no longer have to pay the money?
That notation means that the creditor has written off the debt in order to get a tax deduction. It does not stop them from later collecting the money, or selling the debt to a junk debt buyer who may try to collect the money. The debt remains enforceable through then end of the statute of limitations.