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Using terms you have no concept of apparently?
A write off is an accounting entry made by a creditor so it's books reflect the worthlessness (or real value) of something it was owed...an asset or receivable it had previously recorded gets written down to it's actual value. The debt remains entirely due from the one that owed it, it just makes the books recognize that it probably won't be realized.
You aren't any of those. You have a debt, a liability...you cannot write off a debt you owe. In your own accounting if you will, it is properly reflected and remains owing at the amount, plus ever increasing interest and such, that it is.
Your decision to go into debt cannot now be reversed.
What else can I help you with?
Can you close your bank account if it is overdrawn?
In order to close it, you have to pay off the overdraft first.
Can you get a credit card to pay off your overdrawn bank account?
In principle you can; you can get a cash advance from a credit card and use that to pay off the bank account, the problem is that the interest from the credit card is likely to be higher than the bank charges. It's probably best to try and arrange a loan with the bank.
Can you open an account with a bank if you have had a charge off with a past account?
Typically no, once your account gets to the point of charged off, it has been overdrawn for roughly 45 days (give or take). Your name and SSN then get reported to ChexSystems which then notifies every bank of your charged off account. Not many banks want to risk losing their money to you if you've already lost money for another bank. Your best chance to get an account is to go back to the bank your account was charged off, explain what happened, and hope for the best. And next time balance your checkbook... daily.
Can you drop your name off a joint checking account?
Yes it is possible to do so - PROVIDED - the account is in credit and the other account owners agree. It is best to do this in writing (see related question below). If the account is in arrears (overdrawn) the bank will not let you do this as you are joint and severally liable for the debt.
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
How do you write a letter to bank for cancellation of authorised signatory?
A person can write a letter to the bank, in order to cancel an authorized signatory by naming the account and listing the number. The letter should also state the name of the people on the account and who should be taken off.
Write-off---What is the meaning of bank lone write off?
A bank loan write-off is when the customer doesn't pay the loan and the bank writes it off as a bad debt. In a write-off, the bank includes a bad debt as an uncollectible loss on its tax return.
If the bank charged off the account and send a 1098 form to the IRS can the bank later sell the account to the collection company?
Banks can sell debts to collection agencies at any time. The write off was likely done after the sale anyhow, and the 1098 was for the amount of money the bank lost overall.
Why bank account is a personal account?
Healthy bank accounts are so important because they determine how you are treated at the bank. Obviously, you should expect great service all the time, but when a teller looks at your relationship with the bank, they can place holds on your deposits if you have a poor relationship with the bank. For example, if you are overdrawn all of the time, or you have many NSF items come through.. that can negatively effect you and your banking transactions. If you deposit negotiables, at the bank' discretion, they can place an extended 10 business day hold because they feel that they will not collect on the item based off of your account history. Besides, some accounts with poor transaction history can lead to other things, like having your account closed, charged-off and sent to collection and Chexsystems. This will negatively effect your credit, and it is very difficult to find banks that will allow you to open an account.
Can a bank set off credit in savings bank account to recover a time barred debt owed by the account holder?
i think they can
Why is a healthy personal bank account important?
Healthy bank accounts are so important because they determine how you are treated at the bank. Obviously, you should expect great service all the time, but when a teller looks at your relationship with the bank, they can place holds on your deposits if you have a poor relationship with the bank. For example, if you are overdrawn all of the time, or you have many NSF items come through.. that can negatively effect you and your banking transactions. If you deposit negotiables, at the bank' discretion, they can place an extended 10 business day hold because they feel that they will not collect on the item based off of your account history. Besides, some accounts with poor transaction history can lead to other things, like having your account closed, charged-off and sent to collection and Chexsystems. This will negatively effect your credit, and it is very difficult to find banks that will allow you to open an account.
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.
