Legal Question in Credit and Debt Law in Texas

Charged off account

Signature loan was opened in 01/2000. Ex-husband stopped making payements and credit union charged off in 12/2001 and closed account 1/2002. My credit reports indicate ''charge off'',''write off'', ''closed account'', and ''balance $0''. (When we divorced he had address for billing changed and I never rec'd anymore info on this acct; however, I know I am still respon for joint acct)

Yesterday,I received a letter from SN Corporation notifying me that this loan has been ''assigned, sold, or transferred'' to them from the CU and they now have the right to collect payments. I actually had 3 loans with the CU and 2 were paid in full by me. The loan # given to me by this new company does not specify which of my 3 loans it has taken over (It indicates first 8 digits only. Each of the 3 accts have same first 8 digits and then followed by 001, 002, or 003 to indicate specific accts.)My questions are:

Is this legit?

Can they collect now after charging off in 2001?

Can they collect since all 3 credit reports (which I had updated 3/2004) state a zero balance and closed acct?

I have called this new company to inquire, spoke to someone who transferred me to a voicemail, but no reponse yet.

Help. Thank you!


Asked on 4/04/04, 6:49 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Charged off account

1. It's legit!

2. The charge-off is simply a book-keeping notation. The debt remains, and can be sold.

3. You can require them to provide the information as to which account they are pursuing. Demand the information in writing, certified mail is preferred.

Read more
Answered on 4/05/04, 10:15 am


Related Questions & Answers

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