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What can I do about a credit card that was not charged off properly?

San Ramon, CA |

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.

Attorney Answers 3


  1. 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.


  2. 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.

    DISCLAIMER: This answer is provided solely for informational purposes only. This answer does not constitute legal advice, create an attorney-client relationship, or constitute attorney advertising. Liewen Law is fully compliant with every State and Federal Law, including California SB 94 and the related Civil Code Sections, as well as the FTC Mortgage Assistance Relief Services (MARS) Final Rule. Liewen Law is a debt relief agency helping consumers file for bankruptcy relief under the United States Bankruptcy Code. Liewen Law maintains this website for marketing and informational purposes only. None of the information or materials on this site is legal advice. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. Said information is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship. While we make every effort to keep this site accurate and up to date, we do not guarantee its accuracy and are not responsible for inaccuracies, errors, or omissions.


  3. 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)
    www.StopCollectionLawsuits.com
    www.facebook.com/SoCalConsumerLawyer
    Twitter: @RStempler

    NOTICE: The above statements are provided for general information purposes only and are not intended as legal advice or advice of any sort for a specific case or legal matter. If you do not have a signed attorney-client fee agreement with the Consumer Law Office of Robert Stempler, APC ("the Firm"), then until such written fee agreement is provided and signed by both a prospective client and attorney for a particular case, neither Mr. Stempler nor the Firm will represent you nor will they be your attorney in any matter and you remain responsible for retaining your own attorney and for compliance with any and all deadlines and for any statutes of limitations that may pertain to potential claims. Comments made on a public forum, such as Avvo.com, to not have any confidentiality because others may read them. If you desire a private consultation with Mr. Stempler that is confidential, please go to www.StopCollectionLawsuits.com and submit a free eCase Review. The result portrayed for a client was dependent on the facts of that case. Results will differ if based on different facts. The Firm and Mr. Stempler are a debt relief agency. The Firm and Mr. Stempler help people file for bankruptcy relief under the Bankruptcy Code.

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