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Charged off accounts in collection

Discussion in 'Credit Talk' started by CredtQuest, Apr 17, 2002.

  1. Apr 17, 2002 #1
    CredtQuest

    CredtQuest Well-Known Member

    This may be a dumb question, but can a creditor turn over a charged off account into collection?
     
  3. Apr 17, 2002 #2
    Erica

    Erica Well-Known Member

    Yes
     
  4. Apr 17, 2002 #3
    razor635

    razor635 Well-Known Member

    Yup the creditor still owns the debt. they charge it off if they dont expect to get paid. They can still assign the Debt out or even sell it entirely.
     
  5. Apr 17, 2002 #4
    Dancer

    Dancer Well-Known Member

    There are some interesting tax implications if they do collect on a charge off, and you just might be able to trip them up. Doc could probably explain better than I.

    Doc?

    Dancer
     
  6. Apr 18, 2002 #5
    texpumpkin

    texpumpkin Member

    I am interested in learning more about this. Anyone?

    Paid the OC a month after they charged off and sold the acct. They aren't saying paid. I am in process of validating with CA b/4 I go after OC. I'm hoping the fact that CA bought the acct. isn't going to mean I owe them too.
     

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