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Charged Off as bad debt... Can they still COLLECT on this ?


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Hi there all,

I have an account on my CR which appears as charged off as bad debt

DOLA: 06/2000

Date of last payment : 09/2001

Some how the OC got hold of my address and now they are trying to collect. FIRST they send me a letter that I owe them 646.00

TODAY I rec'd another letter saying that I owe them 1040.00

400$ BUMP up in two weeks

MY QUESTION IS WHEN THEY HAVE IT CHARGED OFF ON MY CR (Probably was written off as bad debt in their books ) IS IT OK FOR THEM TO COLLECT ???

I have not responded to both their request may be they are just trying to get my attention by bumping up the amount...

Any suggestions appreciated


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Yes. They can and will come after you for what you owe them. Writing off a debt as profit / loss does not excuse you from the debt.

If the OC has not sent this to an outside collection agency, you still have the oportunity to work with them (ie: payment plan) if they are willing to do so. You can negotiate the reporting along with this agreement, although most creditors will not remove negative remarks if you settle for a lesser amount - in which case you dispute with the CRAs after all is said and done. Otherwise, you run the chance that once a CA is assigned this collection, you'll now have another negative entry on your reports and if they are so inclined to get a judgment, you now have three.

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