credit card/charge off/collection questions Informative - Credit card charge off

Review by Anonymous on 2004-09-12
LIMA, OHIO -- Do to down sizing, I lost my job. I fell behind on my credit card payments, I wrote the companies (only one has responded) asking if they could drop the late charges/overlimit fees, I had intentions of paying. One responded stating the card was in charge off, I do not know what this means.

When a debt is turned over for collection, does interest stop?
Comments:1 Replies - Latest reply on 2004-09-12
Posted by Aember24 on 2004-09-12:
Yes interest stops. When they charge off the card it means they have sent it to a collection agency that bought your debt than they the collection agency will pursue it further for the balance that had been charged off.

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