Re: Default and Charge off

Posted by catballou (4.14.164.131) on June 07, 2004 at 13:47:54:

In Reply to: Default and Charge off posted by Jenn on June 07, 2004 at 13:39:25:

others will post for this, but charge off is a federal mandated time limit..when a account is deemed uncollectable and NO payment is made for 180 days. i think yours, being paid on, will not be charged off. you might ask them do they report monthly and will they report your payments. opt out. when will you be caught up? then make them report current..altho the default can still show..or as late payments. some companies report diff...not all report the same. sometimes they will report as late and now current. default means you didnt pay as agreed on the original contract. i assume...since i dont know exactly how these loans are done.

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