double c Posted January 14, 2006 Report Share Posted January 14, 2006 can a copany sue you even that the account is charged off. on my credit report it says profit loss write-off. charge off amount of 2110. balance due 2300. credit limit 1000. but this was a joint account with a 500. dollar limit and my wife is being sued not me. and they are asking for 1022. we owed 300 when the account was closedany help Link to comment Share on other sites More sharing options...
DocDon Posted January 15, 2006 Report Share Posted January 15, 2006 charge-off is just an accounting term. They didn't make the debt go away. Yes, they can sue you. Link to comment Share on other sites More sharing options...
double c Posted January 15, 2006 Author Report Share Posted January 15, 2006 is there a limit on how much interest they can charge legally. should i try to settle before the pre trial conferencethanks for the info Link to comment Share on other sites More sharing options...
AaronE Posted January 15, 2006 Report Share Posted January 15, 2006 some states put limits on it as I understand it but most will charge you the default rate on the debt (29.99%) Link to comment Share on other sites More sharing options...
double c Posted January 15, 2006 Author Report Share Posted January 15, 2006 since i sent a dv letter on the 10 of jan, and recived the summons on the 13th, do they still have to validate the debt? also should i wait until the conference to attempt to settle or should i try now.thanks again for the replies Link to comment Share on other sites More sharing options...
AaronE Posted January 15, 2006 Report Share Posted January 15, 2006 it looks like they crossed in the mail, when did they get the DV (the send date does not matter)? Check the case number with the court to make sure it's actually been filed and the summons was not manufactured to scare you into paying (it's been known to happen). Link to comment Share on other sites More sharing options...
double c Posted January 15, 2006 Author Report Share Posted January 15, 2006 summons was hand delivered by sheriffs office. have not received back green card. it is for only a pre-trial mediation/conference. i don't mind paying and have offered settlement of original charges before it went into ca hands.just looking for any type of advice from others that have been thru the same thingthanks Link to comment Share on other sites More sharing options...
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