Can I Get Macy’s and Capital One to Please Charge Off My Credit Cards? – Brigitte

“Dear Steve,

I live in California, I’m 55yrs old woman, my 3 daughters just finished college, last month I lost my job,

I have 2 credit cards, one is Macy’s for $5,000 and the other Capital one for $5,000, do you think if I call them and let them know I’m unemployed they will charge off my cards? is it a good idea to do this? what do you suggest.

I’m looking forward to hear from you and appreciate your answer.

Thank you.


Dear Brigitte,

First off, no.

End of stress.Your accounts will flow through the normal collection process. But read Hooray, You Are in Collections! The Debt Collector is Calling. The Debt Collector is Calling.

Being in collections buys you time. When the loans reach charge off they will most likely be sold and acquired by a debt buyer and the pressure could be worsen at that time.

If you are just heading into being late, draw a line in the sand and if your situation has not changed in 120 days then consider filing bankruptcy.

But for now, you don’t really have to do anything but relax.

You can click here to find a local bankruptcy attorney and talk to them for free about your specific situation. Get the facts and then you can make an informed and educated decision if bankruptcy is right for you.

Whatever you do, don’t use a penny of retirement money to pay those bills. Just focus on getting a new job and we will deal with the debt later.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Damon Day - Pro Debt Coach

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1 thought on “Can I Get Macy’s and Capital One to Please Charge Off My Credit Cards? – Brigitte”

  1. Brigitte, I think you are confused what charge off means. Charge off, is an accounting term and that the lender can no longer consider recognize your full balance as an asset on their balance sheet. Collection activity will continue long after that, unless like Steve mentioned you file bankruptcy.


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