loose tooth Posted March 23, 2007 Report Share Posted March 23, 2007 Does a charge off from cc debt mean they will sue. Will they settle 1st once it is sent to collections or will they get a judgement and possibly do wage garnishment? Link to comment Share on other sites More sharing options...
loose tooth Posted March 23, 2007 Author Report Share Posted March 23, 2007 My question says it allThanks for any info Link to comment Share on other sites More sharing options...
AISLE4 Posted March 23, 2007 Report Share Posted March 23, 2007 No, an account charging off does not mean that a creditor is about to sue. They can sue but the account could also be sent out to a CA or sold to a JDB. It could bounce around for a long time before anyone got around to suing. It depends on the creditor, the amount of debt and your particular financial situation. They'll look to see if you are employed. They'll be curious to see if you are paying other creditors. They might be interested to see if you have a mortgage. It also depends on where you live. In some states it's easier to get to a debtor's assets. Link to comment Share on other sites More sharing options...
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