Bankruptcy and Charge-Offs

15 Apr Bankruptcy and Charge-Offs

You can still file bankruptcy on a charged-off debt. Any statement otherwise violates federal law and can put money in your pocket. Please, PLEASE, immediately write down all details of the call and contact your attorney.

I must repeat the February 15, 2007 post of my colleague, Susanne Robicsek. A charge-off is a creditor’s accounting entry for the IRS to recover on a bad debt loss. It does not affect your obligation to pay. In fact, only a bankruptcy can change your obligation (or, rarely, a successful negotiation or litigation, or a statute of limitations) – the exact opposite of what you were told.

Related Posts Plugin for WordPress, Blogger...
The following two tabs change content below.
L. Jed Berliner practices exclusively in consumer bankruptcy, foreclosure defense, and related consumer protection litigation such as credit card defenses and suing debt collectors. He established his Springfield, MA practice in 1988. Attorney Berliner is a regular and active contributor to the Bankruptcy Law Network, the Bankruptcy Roundtable, and the National Association of Consumer Bankruptcy Attorneys, three specialized consumer bankruptcy forums on the Internet, and is an informal mentor to regional practitioners. He is recognized by his peers as an expert in consumer bankruptcy issues. He thoroughly enjoys being rated "excellent" in his client surveys.

Latest posts by L. Jed Berliner, Western & Central Massachusetts Consumer Lawyer (see all)

No Comments

Sorry, the comment form is closed at this time.