topic Re: Paid Charge Offs in Bankruptcy

Paid Charge Offs

DiamondDan73 — Sun, 11 Feb 2024 22:44:57 GMT

Would it make sense to include a paid or settled charge off in a Chapter 7? I have a a few charge off's that I settled in 2020 and they are listed as either a collection account or a personal loan. They are reporting as Paid. Closed. $300 written off or Account paid in full for less than full balance.

I've tried to dispute them but they come back as verified. I would having them reporting as included in bankruptcy be better?

Re: Paid Charge Offs

Jeffster1 — Mon, 12 Feb 2024 00:03:20 GMT

@DiamondDan73 wrote:
Would it make sense to include a paid or settled charge off in a Chapter 7? I have a a few charge off's that I settled in 2020 and they are listed as either a collection account or a personal loan. They are reporting as Paid. Closed. $300 written off or Account paid in full for less than full balance.

I've tried to dispute them but they come back as verified. I would having them reporting as included in bankruptcy be better?

If the COs occurred and were paid off prior to your BK filing, they cannot report as IIB.

Re: Paid Charge Offs

pizzadude — Mon, 12 Feb 2024 17:53:37 GMT

Did you actually file BK and when was it discharged ? The BK filing would specifically list out accounts which are included, as stated above, prior accounts wouldn't be included.

Re: Paid Charge Offs

DiamondDan73 — Mon, 12 Feb 2024 18:49:11 GMT

I am filing a Chapter 7 on the 1st. These were paid in 2020.

Re: Paid Charge Offs

Lurker22 — Mon, 12 Feb 2024 19:50:40 GMT

@DiamondDan73 wrote:
I am filing a Chapter 7 on the 1st. These were paid in 2020.

you aren't able to include anything that isn't owing at the time of BK, especially debts that were satified 3-4 years ago

Re: Paid Charge Offs

pizzadude — Mon, 12 Feb 2024 20:01:14 GMT

Agree, those accounts are closed now so they shouldn't be included.