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Re: Question: Charge Offs and Collections


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Posted by sue (208.249.43.154) on January 20, 2003 at 20:42:12:

In Reply to: Re: Question: Charge Offs and Collections posted by WHY CHAT on January 20, 2003 at 09:25:02:

A question about your charge- offs. I am having a problem with one credit card that has been turned over to collections. Is this the same thing as been charged-off? I am no longer receiving statements from the credit card company. I have read about the Fair Debt Law and have considered sending the collection agency a cease communication letter, but am afraid if I do this the credit card company will try to sue me. Did you have this problem? The credit card is unsecured and I owe about $4000. I'm not sure if I shoul just stop making any payments and suffer for 7 years or try to communicate with the credit card company because I don't want to pay the collection agency. I don't have the money to pay the full amount at one time and I don't think the collection agency is going to want to accept payments. I am also wondering if the credit card company was going to sue then why did they turn it over to collections in the first place. I know they charge-off a number of accounts a year, so do they really sue in these cases.

Thanks for any ideas you have


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