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Tis the Season.. for chargoffs


Vinny2020
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I am in a real hole, trying my best to stop the bleeding of my credit. I have been able to get on the "hardship" programs of my major cards but there are some like Applied bank ( via a CA) that are playing hard ball. Lot's of talk about the OC willing to sue or charge-off my balance. Both which I'd like to avoid. I know we should not be even talking to CAs but when they bring up charge offs I feel obligated to working with them. Are charge-offs things that happen at the end of the year or any time?

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*nod* charge off is simply an accounting notation that moves the account from the "good payer" side of the balance sheet to the "uncollectable debt" side. It happens usually 180 days after the account becomes past due.

Edited by jtoast
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