2006-09-26 05:35:43 · 5 answers · asked by satillarivergal 1 in Business & Finance ➔ Credit
Charged off and sold to another company to collect. This can go on forever. Even if you file bankrupcy you wll have to pay something to them in Chapter 13. If you can go Chapter 7, you will be clear of the debt. You need to see a bankrupcy attorney. They will give you all the information you need, even if you decide not to file. Good Luck.
2006-09-26 08:00:04 · answer #1 · answered by Rea 3 · 0⤊ 0⤋
Do you even realize that depending on the dollar amount of money you owe that you could be sued by the credit card company in question?
Do you think this is some sort of sick game?
Do you even realize that if you lose the civil court case, there will be a judgment placed on your credit report hampering your ability to get additional credit for 7 years?
Does this game sound like fun yet?
You KNOW what you NEED to do!
Now do it, dammit and stop looking for a "quick fix" when you now have RESOURCES.
Good night!
2006-09-26 15:26:39 · answer #2 · answered by DaMan 5 · 0⤊ 0⤋
You still owe the debt even if it's charged off. They just don't try to collect it as hard.
Sandy
2006-09-26 12:39:10 · answer #3 · answered by SANDY 1 · 0⤊ 0⤋
Depending on the state in which you live, the answer is yes.
Charged off does not mean you do not owe the debt. It means that the lender of the money wrote it off their taxes.
2006-09-26 12:55:52 · answer #4 · answered by Jonny Ringo 2 · 0⤊ 0⤋
just because the account is charged off does not mean you no longer owe any money. so if they sue you and you have the money, you are going to be paying.
2006-09-26 15:01:37 · answer #5 · answered by bella_4624_19 4 · 0⤊ 0⤋