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A charge-off to trust typically refers to the accounting process where a creditor writes off a bad debt, recognizing that it is unlikely to be collected. This amount is then transferred to a trust or reserve account, which may be used to manage or settle the debt in the future. In this context, the trust acts as a financial mechanism to handle outstanding debts more effectively. It allows creditors to manage their losses while still maintaining a record of the owed amount.
What else can I help you with?
Does a bank account charge off go on your credit report?
Yes, any charge off goes on.
Can creditors classify an account as a charge-off because it was included in a chapter 7 bankruptcy?
Yes and no. If an account was already charged-off before the bankruptcy, it can be reported as a charge-off. By law, the creditors must charge-off accounts included in bankruptcy, BUT they can not REPORT that charge-off if it happens AFTER the bankuptcy. Negative reporting on discharged debts is a violation of the permanent injunction of the discharge.
How many times and how often can a collection agency post an account to your credit report as a charge off?
A collection agency cannot charge-off an already charged-off account. The reporting of the STATUS of the account AS a charge-off can be reported every time they update with the credit bureaus. The 'date of status' must be the date of the ORIGINAL charge-off.
Can you dispute a charge off account?
No. Once an account has been in default for 180 days, the creditor by law must list it as a charge off.
How many points on credit report is taken by a charge off?
A charge-off can hurt your credit score anywhere from 20-120 points.
Will the iPod charge if it is off?
No, the iPod will not charge if it is off. The iPod must be on for it to charge.
How can you remove a Trust Fund trustee?
my brother is the is in charge of my parents irrevocable will of trust can he remove me
Does an electric scooter need to be switch off to charge?
It will charge faster if the primary ignition is off and the switch is flipped off, but it does not have to be completely off to charge.
Does it take longer for an apple computer to charge when it's on or off?
It takes shorter time for it to charge when it is on. Trust me! I have an apple laptop, and whenever I have it on, it charges like, super fast. Well not SUPER fast, but fast. So keep your computer on when you charge it. (As long as it's an apple)! ;P
Is facebookgoing to start charging?
No, trust me... It is NOT going to charge!
Does a Nintendo DS lite need to be on or off to charge it?
You can charge it whilst it's on or off.
Do you charge the iPad when the iPad is turned off or on?
You can charge your iPad either way - it doesn't need to be on or off. However, the most effective way is to charge your iPad when it's off. It will charge much faster.
What is a charge off bank?
I've never heard of a "charge off bank" but I do know that a charge off account at a bank is where they bank has listed a loan as "uncollectable" and is probably reporting it to the credit bureau as a charge off or "bad debt". Hope this helps
What is a 6 letter word means to put in charge or trust?
sucker
What are the ratings and certificates for Off Centre - 2001 Trust Me or Don't Trust Me 1-4?
Off Centre - 2001 Trust Me or Don't Trust Me 1-4 is rated/received certificates of: Netherlands:6
Can you charge your iPhone 3G when it's turned off?
Yes. You can charge your I-Phone when it is turned off.
Does a bank account charge off go on your credit report?
Yes, any charge off goes on.
