Full question:
Can I be forced to pay a credit card company's write-off of my old account now in possesion of a collection company that bought the credit cards write-off account?
- Category: Debts and Credit
- Date:
- State: National
Answer:
A write-off or charge-off is an accounting action that shows a debt is considered uncollectible by the creditor. However, this does not eliminate your obligation to pay the debt. Even if the credit card company has written off the account, you still owe the money. If a collection agency has purchased the account, they can pursue you for payment.
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