Re: Charged off or Written off acccounts

Posted by Drew (24.59.25.2) on July 27, 2004 at 11:14:20:

In Reply to: Charged off or Written off acccounts posted by TerriB on July 25, 2004 at 13:05:32:

Some states may have laws that would prevent a bank from selling charged off accounts, but in principle that is not true. Most of your financial institutions are allowed to sell charged off uncollectable debts to third parties. I don't know of any states that would prevent this off hand, but it is possible that some states may have that law in place. It is best to check with your state credit and banking laws on this.

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