Legal Question in Credit and Debt Law in Illinois

How does ''Written Off'' work

After a company writes off a debt, they then take that as a loss on taxes right? Can they then come after a consumer for that same debt years later? If a collections agency claims to have gotten the account from the original creditor, is that true, would they not have to get the account from the government? Sounds like Double Dipping to me.


Asked on 6/16/08, 5:54 pm

1 Answer from Attorneys
Joseph Michelotti Michelotti & Associates, Ltd.

Re: How does ''Written Off'' work

once you owe money you have to pay it until the sol runs

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Answered on 6/16/08, 11:58 pm


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