Legal Question in Business Law in Iowa
Charged off accounts
Can a business charge off your debt and then turn around and threaten to sue the original consumer on that same debt?
Asked on 8/06/07, 11:42 am
1 Answer from Attorneys
Robert Luedeman
solo practitioner
Re: Charged off accounts
I can tell you that they do it all the time. However the question of the legal effect of a chargeoff is an interesting one, because the credit card bill typically shows zero as a balance. For most folks, zero means zero.
Answered on 8/06/07, 11:53 am
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