Re: Is this Legal?

Posted by observer (205.188.209.12) on September 22, 2002 at 12:48:16:

In Reply to: Is this Legal? posted by Angie on September 22, 2002 at 10:35:15:

The debt still exist on their ledger. It's under "non-preforming accounts". All a chargeoff does is inform regulators and shareholders it is doubtful that the account will pay. But, it is still their property and the meter still runs.

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