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If you pay on charged off accounts are you throwing money away since no one is trying to collect on them?
Wiki User
∙ 18y ago
Just because an account is charge-off does NOT mean the debt is not being collected upon or that the debt is expunged. Charge-off accounts are often sold to collectin agencies or junk debt buyers who will subsequently try to collect on it. Paying a charged-off debt will not help your credit scores. A status of 'paid charge-off' or 'paid collection' is still a negative. A mortgage lender may look more favorably upon accounts like these, but paying won't remove the tradelines or increase your scores.
Wiki User
∙ 18y ago
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How will you collect the data for accounts receiveables aging report?
Well most software programs collect this data for you within a report. But if you are trying to manually figure this out you will look at all outstanding invoices to see how many days past the due date they are basically.
If someone has a charged off credit card that a 3rd party is trying to collect on what actions can they take if the debt is not paid?
They can file a lawsuit and if they win (which they probably will) be granted a writ of judgment. The writ can then be executed against any nonexempt property, or as a bank levy or wage garnishment.
What does it mean when a credit card is charged off?
When a credit card is charged off it means that the company has given up on trying to collect funds on the card and they usually sell the rights to a collection agency and the collection agency will try any means possible to get some money out of you. They usually will send official letters, email, and call your house phone, cell phone and work phone if they have access to this information.
Doing a general journal entry into myob but an account is not listed when trying to enter it but it is not in the accounts list?
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How will you collect the data for accounts receiveables aging report?
Well most software programs collect this data for you within a report. But if you are trying to manually figure this out you will look at all outstanding invoices to see how many days past the due date they are basically.
Can you repossess a vehicle if it's been charged off on your credit?
Just because the company charged off the account, does not mean that they don't want to be paid...so if the car is still assessible...they can repo it. Charged off on your credit means that it is no longer an active paying account..the company took a loss for that amount. A different department, "Profit & Loss" will take over trying to collect any way possible. Sorry.
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they gave up trying to collect and call it a loss.
If someone has a charged off credit card that a 3rd party is trying to collect on what actions can they take if the debt is not paid?
They can file a lawsuit and if they win (which they probably will) be granted a writ of judgment. The writ can then be executed against any nonexempt property, or as a bank levy or wage garnishment.
What is silents23 password in AQWorlds?
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Why was Balboa charged against Spain?
Despite being framed, Balboa was charged with treason for trying to create a separate government in the South Sea.
