sidd_jfk Posted April 11, 2004 Report Share Posted April 11, 2004 Hi there all,I have an account on my CR which appears as charged off as bad debt DOLA: 06/2000Date of last payment : 09/2001Some 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 646.00TODAY I rec'd another letter saying that I owe them 1040.00400$ BUMP up in two weeksMY 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 appreciatedThanks Link to comment Share on other sites More sharing options...
DocDon Posted April 11, 2004 Report Share Posted April 11, 2004 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. Link to comment Share on other sites More sharing options...
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