Hello all,
Not sure what to make of this statement on my credit report because I have read conflicting info on other sites. I have a credit monitoring service that I use to check my credit monthly. Synchrony just charged off 2 of my accounts on 2/23/18 and then 2 days later I receive an update on them that says in the consumer statement section “Profit and Loss Write Off”. This hasn’t happened to my other two Synchrony accounts they just say collection/charge off. They charged off a month ago. Does this mean they are going to cancel the debt on these 2 and issue a 1099C, or could they still potentially sell these?
