Legal Question in Credit and Debt Law in California

Charged off debt

If a debt is on your credit report as a charge off (2004), is the creditor allowed to keep reporting it as past due every month? And after the 4 year statue can they still keep reporting it every month or 3 months.


Asked on 9/25/08, 7:31 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Charged off debt

They can't win a lawsuit after four years, unless you don't fight the lawsuit.

They can report the charge-off for seven years. They are not supposed to re-age the debt. I would wait seven years from the date of the original charge-off and dispute the credit report entry at that point.

See creditboards.com

Read more
Answered on 9/25/08, 7:43 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in California