Legal Question in Credit and Debt Law in Texas
charge offs
Can a creditor list your debt as a charge off even though the debt was paid in full. If the debt is indeed charged off, are you obligated to pay it, and if paid and the creditor stlii lists the debt as charged off, do they owe you the amount paid?
Asked on 12/27/06, 7:54 pm
1 Answer from Attorneys
Sharon Campbell
Sharon K. Campbell
Re: charge offs
Charge off is merely an internal accounting of the creditor; they are required by law to charge off a debt after it goes unpaid for a certain length of time. It has nothing to do with the debtor's liability. Even if it is charged off, the debt is still owed.
Answered on 12/27/06, 11:51 pm
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