According to my original credit card statements, and leading to the final statement. My credit card was not properly charged off. My understanding is typically a bank will write it off six months from the last missed payment or charge.
I demanded debt validation, from the debt collector, and the information they provided was of no benefit. I called the original creditor, and they stated they have no records for 2007, and 2008.
What is not "right" about it?
Keep in mind, a charge off does not mean you don't owe the debt. Lenders are required to charge off a debt for accounting, tax, SEC, and banking regulation purposes. But a charge off does not forgive your obligation to pay the debt.
Maybe clarify what you think is not right about the charge off, and maybe we can provide more insight.
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Real Estate Attorney
Charge-off is irrelevant to you as the debtor. A charge-off is a loss to the creditor. An account that has charged-off is still collectible by the creditor. Keep in mind that the no lawsuit can be filed after the Statute of Limitations has passed. In California, the Statute of Limitations for a credit card debt -- written contract -- is four years from the date of the breach or missed payment.
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Lawsuit / Dispute Attorney
For most cases, the ability to demand that a debt collector validate a debt is essentially a waste of paper and postage, in my opinion, as you seem to have learned. Once the original creditor has assigned the debt to a collection agency, they really don't want to expend any further resources on dealing with the person who stopped making the monthly payments.
As stated on my website's page (linked below) of terms used in collection lawsuits, the term "charged off" is from accounting, meaning when a creditor has determined that an account is likely to be uncollected. Bank regulators and auditors have a maximum amount of months (typically six months) before a creditor must charge off a debt, but they can still collect it by filing a lawsuit or making more calls or letters to encourage the debtor to make payments.
If this debt is past the statute of limitations, then they may be violating the Fair Debt Collection Practices Act (FDCPA) by threatening you (the consumer, if this is a consumer debt) with a debt collection lawsuit. Please read my blog on the "Don't Pay A Dime Strategy," which is linked below.
Robert Stempler (please see DISCLAIMER below)
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