Re: Charge off

Posted by JKelly (68.163.2.72) on August 17, 2004 at 11:57:42:

In Reply to: Re: Charge off posted by Al on August 17, 2004 at 11:50:50:

No, I don't think I am wrong for the reason Reformed posted. If they don't charge it off, their value would be deceptive to their stock holders. Yes, they can keep the account for as long as they wish. They usually have inhouse collectors. They can also assign the account to a CA, but by law, if must charge off. I think you are confused, it must be charged off, but that doesn't mean they can't keep it and continue collection activity.

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