Charge Off
Posted by AngryPAC@reddit | studentloandefaulters | View on Reddit | 9 comments
Briefly, charge off of $20k private loan. Credit already took a nasty hit from being 180 days late (mid 500s). Now marked as charge off and credit increased to 630. No collection agency added yet.
Do I ask for a recall? Will this really hurt me that much? Everything else is fine and on time.
morbie5@reddit
Huh? Why would you want that?
AngryPAC@reddit (OP)
Well isn’t a charge off really effing bad?
morbie5@reddit
I mean it was already bad before the charge off.
Since you are already this far behind why don't you try to negotiate a settlement with them?
AngryPAC@reddit (OP)
They already sold it to someone. I’ll just wait I suppose. Maybe SOL will run out. Who knows?
morbie5@reddit
Just because it is with a debt collector doesn't mean it was sold to that debt collector fyi
AngryPAC@reddit (OP)
So my balance reads zero and says charged off. I spoke with them and said it’s being managed by TCM. So wtf does all this mean?
morbie5@reddit
That probably means they haven't sold the debt. Have they offered a settlement?
AngryPAC@reddit (OP)
Not yet. Not an email or phone call. It’s strange. But my balance is zero and they refused to discuss the debt owed with me.
dannydelco@reddit
A recall? That’s not really a thing.