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  1. #1
    Join Date
    Sep 2016
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    13,916

    Default Unpaid Balance Reported as a Loss by the Credit Grantor

    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?

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default Re: Unpaid Balance Reported as a Loss by the Credit Grantor

    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.

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