I've got the same question. It's from a Connect homework problem.
If an account is charged off it is automatically closed. It is listed as uncollectable debt.
You can't dispute the fact that it was sold to another lender. you can dispute the account if the information is incorrect. To do that, you have to fill out a form provided by the credit bureaus (TransUnion, Experian or Equifax) or write a dispute letter.
Your bank customer care. You need to call up customer care and explain them the situation. The bank will take up your request and after verifying the balance cash in the ATM machine after all transactions of the day and if they find that the transaction was incorrect and you were charged twice, they will refund the amount into your bank account. It happened to me once and I got the money back in around 15 days.
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
It is up to the discretion of the credit card company. Most companies will charge off a card after 120 days of non payment. You can stop the charge off process by calling customer support and speaking with a CSR. Once a card is charged off you usually can call customer support and get it turned back on for a nominal fee and possibly payments. This varies by card and you will have to call them to find out.
"Charged okay" typically means that a transaction has been successfully processed and the payment for a purchase has been approved by a financial institution. It indicates that the payment has been accepted and the customer's account has been charged accordingly.
The collection company has probably charged interest sincethe day they received the account. The interest rate can differ from state to state on a charged off account. So yes, they can but that amount is not just for two months. You need to ask for a total breakdown on the account and see if the interest charged is correct.
It is because,that is the only account they can use to generate fast money.not like saving account that they will be paying interest upon.so,you as a customer,will be charged some interest for helping you keeping your money safe.
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If an account is charged off it is automatically closed. It is listed as uncollectable debt.
No you don't get charged. They will because they called you and you received the call. You are only charged for calls you make.
No.
They use that money to grant loans to other customers. Any deposit money received by the bank is used to grant loans to customers. The banks charge an interest from the loan customer and pay an interest to the deposit customer. Usually the interest charged to the loan customer is higher than that paid to a deposit customer.
No, a closed bank account cannot be charged for any fees or transactions.
A credit memo is issued by a bank to one of its customers, indicating that funds are being added or replaced into that customer's account. There are many situations that can trigger a credit memo from a bank, including refund of fees it may have previously charged.
Yes, interest and fees are still charged when an account is sent to collections or purchased by a third pary collector.
The one-time activation charge is a fee that is typically charged by a service provider when a new account is opened or a service is activated for the first time. This fee covers the cost of setting up the account and establishing the necessary services for the customer.