Are you concerned about what to do about a charged off debt? Maybe you saw a debt marked as charged off on your credit report. This does not necessarily mean that you do not owe the debt anymore, so be careful. You also should be aware of how a charge-off works if you are in a bankruptcy or plan on filing one.

So, What is a Charge-Off?

A charge-off typically results when a creditor has deemed a debt as a loss that they are unable to collect. The creditor hires or sells the debt to a collection agency. The collection agency will now pursue you for the debt. You will most likely receive phone calls and letters to collect the debt. If they do not receive money from you, the agency could sue you instead to collect on the debt. However, there is a time frame under which a charge-off can occur.

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At the Law Office of Daniela Romero, we believe in relationships that are based on trust. Before we work together, we would like to get to know you and we would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case, so we can offer you representation to the fullest extent of the law. Call us today to set up a free consultation.