This post is part of our “Charge Off” series and discusses what typically happens with your unpaid accounts after they are charged off and when the loan or credit card balance is assigned to an outside debt collector. In order to have reached charge off, you will have survived the many collection attempts from your […]
Archives for November 2010
What to Expect in the First Six Months of Not Paying Your Credit Card
This post is part of the Debt Bytes “Charge Off” series and discusses what happens in “pre Charge Off” – when you’re not paying your credit card, and (s) are late between one and 180 days. Credit card debts that go unpaid follow a relatively predictable pattern. When first missing a payment, the phone rings… […]
Credit Card Debts and Charge Off – What it Means to You
The term charge off describes an accounting function followed by your lenders. When speaking of revolving consumer credit card accounts, a charge off occurs when the credit issuer either chooses to, or must, recognize an unpaid loan balance as a loss. Losses are bad news for lenders. The bad news gets reported and can affect […]
Which Credit Card You Should Settle First
Credit card debt settlement is not complicated. But there are several factors to consider when determining the order and priority of different debts to be settled. The main ingredient to your success in debt negotiation is; money. How much you can bring to the table, and over what period of time, in order to fund […]