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Do I legally owe the company that purchased my charged off account from the original lender who has closed the account and it no longer appears on my credit report?
Wiki User
∙ 17y ago
Yes. Your signature for the first debt obligation transfers to the second when it was assumed by the second creditor. It may not be on your credit report because you may not be late. Their policies may also be different than the first. But you will eventually be reported to whatever credit agency(agencies) they report to.
Wiki User
∙ 17y ago
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What does 'Transferred Account charged off' mean?
It means the original creditor has given up the account and sold it to a collection agency. It does not mean the debtor is relieved of the debt. Someone wants the money and they will get it, somehow.
If your bank account says EFT Charged Off does this mean that the account is closed?
If an account is charged off it is automatically closed. It is listed as uncollectable debt.
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
Yes unfortunately they can. Companies today want the charged off account money and will sell it to another agency in order to get this. It will show up on your credit report under another company...so you have 2 listings on your credit report for the original account.
If depreciation is charged on original cost than which method of depreciation should be used?
kavita purchased machinery of rs 5 lak on 1 jan 2007 she also paid instullation charged rs 5o thousand, she sold the machinary 2011 rs 4 lack depreciation is charged at 10 % on 31 dec pass the necessary journal entry under original cost method.
Bank account debt collection?
I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed
Can a company that purchased your charged off account from the original lender file a suit against you?
YES, they purchased a debt contract. The original creditor does not forgive / eliminate a debt by selling it to a collector -- they simply gave-up on collecting a worthwhile settlement from you.
Can a company who bought a charged off account try to collect interest on the account?
Yes, interest and fees are still charged when an account is sent to collections or purchased by a third pary collector.
How do you refund donuts on the simpsons tapped out?
You cannot 'refund' donuts, they must be purchased in the game which will be charged to your apple account.
What does 'Transferred Account charged off' mean?
It means the original creditor has given up the account and sold it to a collection agency. It does not mean the debtor is relieved of the debt. Someone wants the money and they will get it, somehow.
If your bank account says EFT Charged Off does this mean that the account is closed?
If an account is charged off it is automatically closed. It is listed as uncollectable debt.
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
Yes unfortunately they can. Companies today want the charged off account money and will sell it to another agency in order to get this. It will show up on your credit report under another company...so you have 2 listings on your credit report for the original account.
Do you get charged for creating an itunes account?
No.
If depreciation is charged on original cost than which method of depreciation should be used?
kavita purchased machinery of rs 5 lak on 1 jan 2007 she also paid instullation charged rs 5o thousand, she sold the machinary 2011 rs 4 lack depreciation is charged at 10 % on 31 dec pass the necessary journal entry under original cost method.
Bank account debt collection?
I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed
If you have a card being charged off is your spouse responsible for the debt?
She is only responsible if she is an actual joint account holder. Having a second card on the account does not make her liable for the debt. The person(s) making the original contract is the one who is the sole debtor
Can you still be charged any fees after you close a credit card account?
You can be charged any fees that were applicable to the account when it was still open. Yes, fees and interests will still be applied as long as there is an account balance.
What is a sales tax an example of?
6% charged on all items purchased.
