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question about charge-off?
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Posted by AY on September 26, 2001 at 13:18:24:
I have a lot of CC debts. I asked one debt management company to help me out. They told me that they could settle my accounts for me by dropping 50% amount of my debts with those cc companies. I agreed with their ideas.
Last weeks I received a letter from one cc company and told me I would be in charge-off situation if I don't make any payment now. And, the cc company also wrote they would ask another collection agency to contact with me.
I contacted with this debt management company and told them what was going on. They said there was nothing to worry about. It was fine.
My question is what impact the charge-off will bring to me. Am I still able to buy a car or a house in the near future? Am I getting sued by those cc companies? If so, what should I do?
Please help.
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