Q: Does a credit union have to provide a member in writing the amount of interest paid on a loan for tax purposes? A: Depends on what kind of loan it is. Reporting would be voluntary or required by IRS on certain types of loans. Q: How can a financial company put a charge off …
Question: Dear Steve, Have a delinquent account for Macy’s DSNB That was charged off August 2017. I would like to pay the account off to have it not show negative on my credit report. I have attempted by going through Citibank and their affiliates for Macy’s credit card but they said the accounts too old …
Question: Dear Steve, I have 6 negative CC balances on my credit report that are ” Charged off” what does that mean? What does the charge off mean? Bruce Answer: Dear Bruce, I love your question. It’s an issue that so many people don’t understand. A charge-off is an accounting function and this is almost …
Question: Dear Steve, What does it mean Navient has Charged off my Private Student Loan as bad debt, profit and loss write-off.? Now I am now being contacted by a collection agency. Miriam Answer: Dear Miriam, What we have here is the collision of a tax function and a debt function. When the debt was …
Question: Dear Steve, I received a letter about a debt from a collection agency. It said my debt indicated a possibility to be sued. I wrote back and they sent me a form that showed the charge off date for June 20 2014 and showed no purchases except for interest and fees in 2014. Am …
Question: Dear Steve, I defaulted on my Navient/Sallie Mae private student loan and I just found out that they have closed the account and charged it off as bad debt as listed on my credit report. My private student loan was closed and charged off. I’m assuming they have turned it over to a collection …
Q. What does a “charge-off” notation mean on my credit report? A. A common theme in my credit card debt relief law practice is to know what you owe and have a plan to pay off your credit card debt. The best way to get a true picture of your debts is to run your …
“Dear Steve, Current on my first, discharged both 1st and 2nd mortgage in chapter 7, Chase charged off my 2nd, I have the money to pay Chase and bing my loan out of default. Since they charged off my loan they will not cure the default. I received a letter on 3/1/13 saying I had …
“Dear Steve, A bank account and a credit card debt that have been charged off. I had a checking account and a Credit line from Bank of America that have both been charged off (The bank account charged off a few months ago and the Credit almost a month ago). They the debt isn’t very …
I have $13,000 worth of credit card debt that has been charged off. The account is still being held by the Discover Card. They haven’t sold it off…..yet. I also have another account with Discover, but I am up to date on it and have never been late.. I also have a Chase CC that …
