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Re: chargeoff vs judgement


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Posted by LadynRed (199.91.33.254) on January 22, 2003 at 12:39:20:

In Reply to: chargeoff vs judgement posted by Lost in Debt on January 22, 2003 at 08:49:55:

If the last payment made was in 2001, the account went to charge-off a long time ago. By law they have to write off non-performing accounts after 180 days on non or insufficient payment.

The collector is trying to scare you, which is what they get paid a minimum wage to do. They want money and they'll say almost anything - mostly illegal - to force you to pay. The guy can't just tell the bank to put a judgment against your father, they'd have to sue first and win in court FIRST - which would cost them money. Depending on the amount owed, it may not be worth it to them to sue.


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