Re: Charge Offs
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Posted by J Kelly
(68.163.2.72) on August 03, 2004 at 16:22:06:
In Reply to: Charge Offs posted by Charge Offs on August 03, 2004 at 16:15:58:
A charge off is an accunting term. Creditors are required by law to charge off at 180 days. They have no choice.
A 1099c is issued when a debt is FORGIVEN ( the creditor agrees to a pay off at less than the account balance) So, a charge off has absolutely nothing to do with a 1099c.
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