Most credit card companies write off unpaid debt after a certain number of missed payments, but that's not the end of the story. Getty Images/iStockphoto

Credit card debt has ballooned in recent years, with total card balances now exceeding $1.21 trillion , according to the latest data from the Federal Reserve. And, today's high credit card interest rates , which are averaging above 22% currently, are making it even harder for borrowers to keep up, especially amid the current inflationary landscape . As payment delinquencies rise in tandem, though, many borrowers wonder how long before that old credit card balance is simply written off.

Credit card companies do write off debt , but perhaps not in the way most people imagine. When a creditor charges off your account, they'

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