|
|
Re: keysor, pls clarify
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by LadynRed
(68.52.127.174) on July 05, 2004 at 11:51:31:
In Reply to: keysor, pls clarify posted by survivor on July 05, 2004 at 08:59:03:
Actually, the have to CHARGE-OFF the account, write it off their books as an uncollectable/bad debt, after 180 days of non-payment. They do NOT, however, have to SELL the account (sorry Keyser). While it doesn't make much sense why they'd keep it, except to sue people, they are not required to. A few creditors, like Crap1, don't sell their bad portfolios, they keep them and sue.
Follow Ups:
Post a Followup
|
