Posted on: 18th Sep, 2010 06:54 pm
We had a bankrupty in 2005.
Hi djuneparker,
A charge-off is the declaration by a creditor that he won't be collecting an amount of debt. A creditor/lender normally charges off an account when the consumer becomes severely delinquent on a debt. The creditor can charge off the account and assign it to a collection agency who will collect the dues from you.
Thanks
A charge-off is the declaration by a creditor that he won't be collecting an amount of debt. A creditor/lender normally charges off an account when the consumer becomes severely delinquent on a debt. The creditor can charge off the account and assign it to a collection agency who will collect the dues from you.
Thanks
Thank you so much for your quick answer. We are trying to find a morgage company that will handle us getting a new mobile home. Because of our poor credit rating because of the bankrupty it is tough. We had to get my son out of a house of ares and it was a whole lot more expensive than we were lead to believe. Before that, we had an excellent rating. Thanks again