Re: Amount of "Charge-off" vs. Original Credit Limit
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Posted by observer
(205.188.209.12) on September 08, 2002 at 09:57:50:
In Reply to: Re: Amount of "Charge-off" vs. Original Credit Limit posted by Linda on September 08, 2002 at 02:23:54:
To add to Linda's fine post. The cc company reaps a huge tax break with all of these fees and default interest rates. Whenthey chargedoff your account, they used the sum total of the defaulted balance even though there was never a hope they would collect any of that money. I really would love to see Congress address that issue. This is why they have little incentive to work with accounts that are in trouble.
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