QUESTION
Can I be sued in court for a balance remaining from a charge-off?
Asked on Jul 27th, 2016 on Bankruptcy - Louisiana
1 ANSWER
Landlord & Tenant Attorney serving Thibodaux, LA
at
The Louque Law Firm, L.L.C.
Update Your Profile
Yes, "charge off" does not cancel the debt. It is merely an accounting measure used to write off bad debts but the debt is still owed unless it is prescribed (beyond the statute of limitations). You can still be sued for a debt that is only "charged off."
Answered on Aug 26th, 2016 at 2:29 PM