I Heard Something About Charge Offs
My question is that I was told once the company reports a charge off they can not send you a collection letter trying to collect the debt. Since they have allready reported this a loss on their taxes. Is this true Please let me know and how I can find out more on this. Thank you please let me know asap!!! 
charge off means they sold your paper for pennies on the dollar....
time to negotiate with collection agency that bought it...
offer 20 cents on the dollar and full credit report clearing when making the offer
if they say no hang up
wait for the next call make the same offfer they will accept it ... eventually....
get them to agree to it in writting first....
then pay up...
just a thought
Well I know that even though it was charged off, there could be collection agencies who bought the debt and still try to collect payment. You could write the credit bureau stating it was paid and they put charge off and that you hope to dispute it since they are harrassing you for payment again and it should have been taken off and put paid in full. But they seem to be able to do whatever they want with an old account, just make sure you dispute real things instead of disputing everything from the day you decided not to pay bills like someone I know. $50K in debt, saying they were disputing everything and that it was a conspiracy. HMMmmm don't think it worked!
RomtcWmn,
The answer to your question is yes. Not only can a lender or creditor continue to attempt collection on the account but they can also assign to a collection agency. In most cases they will seek a judgement through the courts for the unpaid amount including collection fees, penalties, interest, attorney fees and court fees. Dont ever think that because an account gets charged off your problem somehow goes away, in most cases your problems are just starting.
Repoman