Account CO!

[corymcd88]

I was told if an account is charged off and they reported to the IRS as a loss to the bank they can't send the account to a 3rd party to collect on it. Does anyone know if this is true?

[pizzadude]

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@corymcd88 wrote:

I was told if an account is charged off and they reported to the IRS as a loss to the bank they can't send the account to a 3rd party to collect on it. Does anyone know if this is true?

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Sorry, not true.   The charge~off is a final accounting maneuver to take the debt of their books, but they can still sell it to CAs who will attempt to collect.

[corymcd88]

Chase Account manger told me that info and three different reps back it up at chase.

[pizzadude]

Perhaps it is an internal policy at Chase.

[corymcd88]

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@pizzadude wrote:

Perhaps it is an internal policy at Chase.

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I don't know, I hope someone can help.It is two years old going on three.