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Are banks allowed to charge finance charges on an account that is reported as charge-off on a credit report?

2007-12-11 11:41:15 · 1 answers · asked by kc 1 in Business & Finance ➔ Credit

1 answers

Yes. The term "charge off" reflects the accounting status of the customer account. It does not change any of the creditor's rights in assessing interest or fees or their right to collect on the account.

2007-12-11 12:17:03 · answer #1 · answered by Ted 7 · 0⤊ 0⤋

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