What does "charged off" mean?

I am in debt (past due) and many of my accounts are marked "charged off" on my credit report? What does this mean? Also, what if I am incapable of paying off the debt financially, but can also not afford to file bankruptcy? Does charged off mean the collection agencies have written the debt off/won't... show more I am in debt (past due) and many of my accounts are marked "charged off" on my credit report? What does this mean? Also, what if I am incapable of paying off the debt financially, but can also not afford to file bankruptcy? Does charged off mean the collection agencies have written the debt off/won't come after me? Thank you (how embarrassing to even ask this question!!)
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