Should you make payments on a charged-off credit card?

ConfusedaboutChargeoff · Guest 0 Magic Points

I had been receiving calls from an Atty's office in South Carolina about a charged off credit card. Today, I received a call from a company in Houston, TX about the same credit card and that I owe almost $9,000 because I couldn't work out something with the Atty. in South Carolina. The company said to settle they would work out something with me like taking off the previous Atty's fees and cost, plus the owed interest. I have contacted the Federal Trade commission regarding the first attempt to collect this debt. The FTC said that these people must have a license in PA to attempt collection how true is that, and when these people call they will not give you any information about their company so that you are able to send them a letter to validate that debt.

Dee · Guest 0 Magic Points

I had a card in 1999 and it went into default in 2000, charged off in 2001. It hasnet been on my credit report until now (2009) as a collection agency has purchased "charged off" debt. What do I do?

Brenda · Guest 0 Magic Points

I called the collection agency that bought my credit card account and they will not let me mail in payments. Is that legal?

Joined: 26 Feb 2008 Posts: 4285 127 Magic Points

Confused, You need to check the SOL on your debt. If the FTC knows they have an License in PA then surely they would know the address to send a validation letter. You could also try to call your atty generals office and see if they can help you.
Dee, You need to file a dispute with the credit bureaus because this debt is past the 7 year reporting time.
Brenda, It is legal for them not to accept payments. If it would go to court the judge could agree to payment arrangements. I am surpriesed the will not agree since you are trying to repay the debt.

carole · Guest 0 Magic Points

The credit card debt is four years old but I just checked my credit history and they are listing it for this year as a charge off. How can I change this so that it will fall off after seven years from the date of default? I have received letters from Collection Agencies in the past but not one of the agencies is listed only the original bank credit card.

malissa · Guest 0 Magic Points

a credit card has turned over to collections it was charged off in 2001 it says last payment was 2006 im in alabama its not showing on my credit report

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi Malissa,

A charged off account stays on your credit report only for 7 years. After that the charge-off falls off from your credit report. However, the Statute of Limitations (SOL) on your debt has not expired yet. SOL is the time limit within which the creditor or collection agency can sue you for non payment of the dues.

However, if the collection agency tries to collect from you, you can first send them a "debt validation letter". You will get a sample validation letter at http://www.creditmagic.org/repair/sampleletter-debtvalidation.html .

Hope this helps.

Regards,

Aaron

missqueenie22 · Guest 0 Magic Points

hi i have a bad debt charge off the date it says paid was april 2006 i live in pa thanks

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi,

Can you mention clearly what exactly you want to know?

Thanks,

Aaron

Joined: 03 Nov 2007 Posts: 3927 10 Magic Points

Suggestion, posters, it would help you if you register and then when you come back you have the same name and the people who are answering will know that it is the same person, besides you earn money when you post. Like on this one there is three different people who could all be the same one. You don't have to if you don't want to, but it is helpful to the people answering the post too. Smile

missqueenie22 · Guest 0 Magic Points

hi i have a bad debt charge off the date it says paid was april 2006 i live in pa so am am i over the state of limations in pa

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi missqueenie,

The Statute of Limitations in Pennsylvania for all kinds of debts is 4 years. Thus, as you had made the last payment in April, 2006, can you tell the exact date?

Thanks,

Aaron

missqueenie22 · Guest 0 Magic Points

hi no i cant this was a write off the payment was not from me all it says is write bad debt paid april of 2006 thanks

Bruce9000 · Guest 0 Magic Points

What about an acoount that was charge off I belive in iSeptember of 2002. I'm not sure but I know it's around then how can I find this information and how do I get it removed from my account if it has reached it's statute of Limitations?
Thank you

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi missqueenie & Bruce:

You both need to pull your credit report. The date and year will be mentioned there.

For removing the charge-off you need to pay of the dues to the original creditor. For that you will have to request the creditor to pull back your account from the collection agency. Once it is done, you need to request the creditor to agree to a "Pay for delete" (PFD) agreement. With PFD the charge-off will get removed.

Thanks,

Aaron

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