Posted on: 10th Jan, 2010 01:05 pm
if they charge off a debt can they try to collect later?
Welcome bevy,
Once the lender charges off a debt, he'll not collect the dues from you. It is the collection agency who'll call you and ask for the payments.
Once the lender charges off a debt, he'll not collect the dues from you. It is the collection agency who'll call you and ask for the payments.
not necessarily, adonis. "charge off" is strictly financial terminology. a charged off loan doesn't need to be sent to collections. a lender can continue to contact a borrower and request payments, and all other remedies remain available as well (suit, judgment, lien, etc.).
