I heard today that Spiegel is filling for bankruptcy protection, does that mean anything concerning my account. Can I try and get them written off????? Just wondering.
Most likely your account with them is backed by a bank or credit card issuer. Your account will continue to be in effect and you will be responsible for payment, even though the account can no longer be used for new purchases.
My guess is that a charged off account or bad account will probably be sold to a CA for pennies on the dollar, that way they can atleast recover some money from the bad debt. You would then be hounded by the CA for payment. From my experience this is usually good as the CA does not have the required documentation for validation and they usually always break the FDCPA trying to collect on the debt. I had a similar company called Midland who bought a CCB account and they tried to collect on it, I ended up suing Midland and they paid me to settle the suit. They had nothing to even prove the debt was mine and broke numerous collections laws. Tac
