When does it charge off?
Date: Sat, 08/15/2009 - 11:14
What date do they use to figure the 180 day time frame from. Is it 180 days from date of last payment or 180 days from the statement due date that you didn't pay. For example, I paid on Jan 1, next payment was due Feb 1st and could not pay from that point on.
It doesn't have to be 180 days; creditors usually decide when to
It doesn't have to be 180 days; creditors usually decide when to chargeoff an account based on their own internal policies. It could be 120 days, it could be never, just based on the particular creditor.
The time frame, if there is one, usually runs from the date that the account defaulted. So if your payment was due Feb 1, and you didn't pay it, then Feb 2 will be the first day of default.
