Re: Charge-Offs Explain Please

Posted by Keyser Soze (64.12.96.78) on October 23, 2003 at 17:56:59:

In Reply to: Charge-Offs Explain Please posted by Dolly on October 23, 2003 at 16:17:06:

Chargeoff starts 180 days from the date of default, defined as the first payment missed which was not made up. You miss the September payment. You make the October and November payments but you never make good on the September payment. The clock starts on the September due date.
CA's play many games with this one, all illegal. 180 days is the maximum time the card company has to chargeoff the account, some do it before the period has expired.

Enchargedly,

Keyser Soze

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