Creditor closing your pass due accounts?
Date: Thu, 03/04/2010 - 13:30
Citi Universal AT&T has explained that when this billing cycle is up, 3/11, account has potential to be closed. That will be at 93 days past due.
Got a letter from AMEX saying that account was canceled. Is that the same as closed? Pass due 94 days and the letter was from a couple weeks ago... so at around 80 days.
Anyone have experience with OC closing or canceling their accounts???
Perhaps I'm better off closing them before they do it.
Got a letter from AMEX saying that account was canceled. Is that the same as closed? Pass due 94 days and the letter was from a couple weeks ago... so at around 80 days.
Anyone have experience with OC closing or canceling their accounts???
Perhaps I'm better off closing them before they do it.
Hi Bmungo, Well, what I can make out is that, as you are late,
Hi Bmungo,
Well, what I can make out is that, as you are late, they might charge off your account. But it' s not considered as debt cancellation as you still owe the debt.
The creditor might write off your account for the time being if they feel that they are unable to collect the debt. But it does n't mean that they cannot collect it, as they may assign or sell off your account to a collection agency in future.
[FONT="]
So, you can step in for a negotiation if you think you are ready enough.
[/FONT]
