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Can a creditor sell an account charge off and still list a balance owed?


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Wiki User
2015-07-15 21:36:12
2015-07-15 21:36:12

the original creditors claim should drop off and the CA claim stay. Double?? Likely, the unterest and fees are building up. Try to settle this somehow. They WILL deal.

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If you have a garishee against your salary can the creditor still charge interest. Thanks Theo

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That is perfectly legal. The term "charge off" does not mean that the debt is not still valid and fully collectible.

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If there is an outstanding account balance. Closing/canceling the account will not eliminate any fees or penalties that were in the agreement when the account was opened. There might also be an annual charge even though the account has been deactivated.

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Yes, it can. Just because a creditor charges off your debt, does not mean that you don't still owe it. Before you pay on a charge off, make sure you get an agreement from the creditor to delete it from your credit report once it's paid!

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Charge offs are accounts that have been written off by the creditor as uncollectable. The debt owed is still valid and can be collected on either by the original creditor or by a collection agency. You can only erase charge offs by disputing them to the credit bureaus or negotiating the removal by the original creditor.


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