Restart the Chargeoff date?
Date: Sun, 07/19/2009 - 04:07
No, making a payment will restart the SOL but not the charge off
No, making a payment will restart the SOL but not the charge off date. Charge off date starts from the date the account has been charged off by the OC or the CA and remains there in your report for 7 years.
Sometimes it can. It depends on the bank and your situation. T
Sometimes it can. It depends on the bank and your situation. The only way to know for sure is to actually speak with the bank and negotiate that. For instance, they are offering a settlement and you don't have the money until after charge off. With some banks, making a payment can allow them to extend the charge off a little further out.
However, don't just make a blind payment hoping to extend the charge off. Also you can try negotiating the settlement in 3 to 6 payments, that will buy you some time and get the deal before charge off.
