charge off
Date: Mon, 02/08/2010 - 18:44
I have been reading thru a lot of threads trying to make the final decision to start trying to do debt settlement with 5 different cards. I keep seeing the words charge off (what does this mean?)
Creditor will charge off your debt as bad debt. It is more or l
Creditor will charge off your debt as bad debt. It is more or less an accounting term. It does not affect the collectability of your debt.
Ras Go to top of page and click on "Do It Yourself" for good h
Ras
Go to top of page and click on "Do It Yourself" for good help.
Quote:Originally Posted by rasI have been reading thru a lot of
Quote:
Originally Posted by ras I have been reading thru a lot of threads trying to make the final decision to start trying to do debt settlement with 5 different cards. I keep seeing the words charge off (what does this mean?) |
The concept of chargeoff can be a little scary because it is the point where they can decide to take legal action. on the other hand, it is also when you may get a better settlement...both just before and after.
