Question about charge-offs

Discussion in 'Credit Talk' started by bhargavap, Jul 13, 2002.

  1. bhargavap

    bhargavap Well-Known Member

    If an item has been charged off by a company, should it still show a balance due?

    Also for items that were transferred or sold, should they show a current status of late for any period of time?

    I am thinking 0 balance should be the case for charge offs and no late status for the transferred or sold... dont know though...

    Anyone happen to know?

    Thanks!
    Parul
     
  2. sette313

    sette313 Active Member

    Yes, it will still show the balance. This money is still owed on the account even though it has been charged off.

    Not to sure about the transferred or sold, I imagine it depends when it was last updated?

    S313
     
  3. erik776

    erik776 Well-Known Member

    Late pays will stay for 7 years regardless of other factors about an item.
     

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