Re: Charge off & Sol...

Posted by J Kelly (141.151.16.185) on March 19, 2004 at 22:50:45:

In Reply to: Charge off & Sol... posted by scared sick on March 19, 2004 at 22:13:56:

Charge off is when the original creditor deems the account to be uncollectable, usually 180 days. They take their tax deduction and send the account to collections.
SOL is the time that a creditor or CA has to sue on an account. Varies with each state. Credit Cards are ALWAYS open accounts.

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