CaptCBM Posted October 12, 2006 Report Share Posted October 12, 2006 I just checked all 3 of my credit reports. The one negative TL I have is my MBNA account which has charged off. I noticed the following explainations listed for each CRA on my TC Report:TU: Charged off as bad debtProfit & Loss write OffEXP: Unpaid balance reported as a loss by the credit grantorEQU: Charged Off AccountMy question is this: If they have now written my debt off as a loss why is an attorney representing them still able to attempt collection? I understand if a Junk Collector buys it and it is now their account they can collect but if their attorney collects money from me on a debt they have claimed as a loss aren't they double dipping?Maybe a dumb question - just something that crossed my mind. Link to comment Share on other sites More sharing options...
Got FICO? Posted October 12, 2006 Report Share Posted October 12, 2006 Do a search for posts by Willing to Cope, he is an expert on this topic. Link to comment Share on other sites More sharing options...
E. Normis Debtor Posted October 13, 2006 Report Share Posted October 13, 2006 The charge off is how they account for the money you borrowed, but failed to repay. They can still sue you for your failure to pay it back. Link to comment Share on other sites More sharing options...
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