Legal Question in Credit and Debt Law in Texas

charge-offs

On my credit report, on one of my accounts it says that the account was closed and sold to a collection agency. Is this the same thing as being charged-off?


Asked on 9/27/06, 10:26 am

2 Answers from Attorneys
TC Langford Langford Law Office

Re: charge-offs

Yes.

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Answered on 9/27/06, 11:34 am
Peter Bradie Bradie, Bradie & Bradie

Re: charge-offs

Yes. It's a book-keeping entry, not a cancellation of the debt.

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Answered on 9/27/06, 2:13 pm


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