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Chap last won the day on October 18 2016

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  1. Thank you Clydesmom for your reply and advice!
  2. Hi All! First post, hoping someone can address this question. I owe on a Chase Credit card that I let Charge Off, original amount is around $10k. I believe my last payment was in December of 2015. GC Services sent a letter stating they are handling the debt for Chase. Note that GC does not own the debt, they are contracted by Chase to collect on the debt. I recall back in business school that, according to Generally Accepted Accounting Principals (GAAP), a creditor must write off the debt as bad debt once the debt reaches a certain amount of time, and this bad debt beco