Share post
Share
Debt Consolidation Forums Creditors and collection agencies address book forums

What does account charged off mean?

Date: Mon, 06/18/2012 11:31
member profile picture

I'm trying to pay off my account with GE but I called moved over to 5-6 different offices. Got a remark by one representative that the account was charged off what does that mean?




It means they gave up hope of recovering payment from you and wrote off the account. Generally it's sold to a collection agency after this happens.

Sub: #1 posted on Mon, 06/18/2012 - 13:08

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5253 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


DebtConsolidationCare (IAPDA member)
Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2018 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.772 seconds.