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About 1 year ago I became 120 days past due. They then placed me in a program with a lower interest rate. Since April of 2009, I have made monthly payments under that "program" in all but 1 month.
They recently they told me if I missed this months payment did not payment they would charge off my account. Is this possible, or is this a mere threat from an over zealous collections agent.
Although I am making the monthly payments under the program, I still have a past due balance that has existed since April 2009.Would they charge off my account for missing another payment, if I have made 11 out of 12 payments?
debt charge-off
Hi Willy,
Yes, they can charge-off your account for non-payment of the dues. You had defaulted previously. They had worked with you, and agreed to a payment plan. Now you have again defaulted on your payments. So, I am afraid it is very likely that they may charge-off the account if you fail to make the payment.
As for the past due, can I know whether or not the company has ever tasked to pay that back?
Thanks,
Aaron