Can a credit card company bring a complaint against you, even though they had sent you letters stating that the balance on your credit card had been charged off? And a civil action is being brought up even after this? What will they do, or does anyone know?
2006-12-24 05:20:15 · 2 answers · asked by sweet_vic02 1 in Politics & Government ➔ Law & Ethics
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2006-12-24 05:26:47
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answer #1
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answered by taxidriver 4
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Yes they can. A chargeoff does not absolve you of the debt; it just means that the company is giving up hope of ever getting their money back. Normally when your debt is charged off, it's sold for a fraction of its value to a collection firm and they try to get some money out of you but the credit card company can still try to take you to court after you're in chargeoff and collections.
2006-12-24 05:23:44 · answer #2 · answered by dcgirl 7 · 0⤊ 0⤋