Posted on: 05th Oct, 2010 12:45 pm
Kirby has offered to charge off there debt with me for a misleading two disabled people into a purchase. They are telling us this will not be a negative on our credit report. Can you please help me. They say it will stay on the credit report but show as resolved. Can they still collect if they do this?
Hi bobbolanos,
Charge off means that the lender will declare your account as uncollectible. In such a situation, the lender won't be able to come after you for the balance amount. However, if the lender assigns the account to a collection agency, then they can come after you for the dues.
Thanks
Charge off means that the lender will declare your account as uncollectible. In such a situation, the lender won't be able to come after you for the balance amount. However, if the lender assigns the account to a collection agency, then they can come after you for the dues.
Thanks