Will some creditors give up after accounts are closed/charged off?

[masscredit]

A majority of my credit card accounts are now listed as closed/charged off. Do some creditors just write off the debt and be done with it or do they all send the accounts to collectons?

[Jnbmom]

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@masscredit wrote:

A majority of my credit card accounts are now listed as closed/charged off. Do some creditors just write off the debt and be done with it or do they all send the accounts to collectons?

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Not enough information. It depends on who the creditor is and how much is owed, how old are they etc.

Some will sue while others will not , a lot factors go in to it 

[Anonymous]

I can't say for sure but I imagine the majority would at least try to collect. I doubt many would just walk away from money owed when there are a lot of vehicles they can use to collect it.

[masscredit]

The highest balance is on one of my Cap 1 accounts.  That is 24K. There is another one of theirs at $16K. Two Discovers at $10K and $7K. Those are the only cards that haven't been closed. The closed accounts have balances that range from $1100 to $10K. PENFED, NFCU, CBNA, JCP, Lowes, Barclays a couple others I'm forgetting. 

[incognitony]

Cap1, Discover and Barclay's are possible to send to collections that will seek default judgements.

[masscredit]

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@incognitony wrote:

Cap1, Discover and Barclay's are possible to send to collections that will seek default judgements.

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I keep getting emails from Cap 1 that say they will be charging off the accounts next month so I was wondering what will happen then. I have a list of BK attorneys to contact this week.

[incognitony]

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@masscredit wrote:

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@incognitony wrote:

Cap1, Discover and Barclay's are possible to send to collections that will seek default judgements.

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I keep getting emails from Cap 1 that say they will be charging off the accounts next month so I was wondering what will happen then. I have a list of BK attorneys to contact this week.

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It will take months or years to play out with them going through a collection agency. Bankruptcy will clean it up a lot faster if you go that route.

[FireMedic1]

Dont know your income or a lot of back ground. Without stating what the balance are here "PENFED, NFCU, CBNA, JCP, Lowes, Barclays a couple others I'm forgetting." Just the ones you mentioned your at $42,070. I never say go file. Thats a personal choice. But man a fresh start might be freedom from all this debt.

[masscredit]

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@FireMedic1 wrote:

Dont know your income or a lot of back ground. Without stating what the balance are here "PENFED, NFCU, CBNA, JCP, Lowes, Barclays a couple others I'm forgetting." Just the ones you mentioned your at $42,070. I never say go file. Thats a personal choice. But man a fresh start might be freedom from all this debt.

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My total is in the $150K+ range so I'll be filing. Was wonderng what happens to closed accounts/charge offs through. I doubt none of them would come after me if I don't file.

[Horseshoez]

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@masscredit wrote:

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@FireMedic1 wrote:

Dont know your income or a lot of back ground. Without stating what the balance are here "PENFED, NFCU, CBNA, JCP, Lowes, Barclays a couple others I'm forgetting." Just the ones you mentioned your at $42,070. I never say go file. Thats a personal choice. But man a fresh start might be freedom from all this debt.

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My total is in the $150K+ range so I'll be filing. Was wonderng what happens to closed accounts/charge offs through. I doubt none of them would come after me if I don't file.

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I owed rather more than you when I filed back in 2015 and literally 100% of my creditors were coming after me, and when I did file, once again, 100% filed claims.