Charge Off - Am I still responsible?...
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Posted by Donna p. (67.194.9.189) on June 17, 2002 at 13:30:42:
I live in the state of NJ and I co-signed for a bank loan in 1996. The primary person on this acctount went bankcrupt in 1998. The bank's lawyer contacted me that same year saying I was liable to pay the rest off. At the time, I told them I wasn't able to pay it off and never heard anything after that. In february of this year, a new law office sent me notice that I was being sued by the bank to pay the remainder of the loan which had since then collected interest on. According to my credit report, this "account was charged off/past due 60 days. $5,000 written off." My question is, since this was written off, am I still responsible to pay this debt? Thank you for any advise you can give me. Donna p.
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