QUESTION

A payday loan that is old and charged off does the customer still have to pay it?

Asked on Jun 22nd, 2015 on Debtor and Creditor - California
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Bankruptcy Attorney serving Burbank, CA
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A charge-off is merely a bookkeeping entry.  It has nothing to do with liability on the debt.   The debt may be past the statute of limitations for collections, however.  That depends on a  number of factors, including which states laws apply, when the last payment was made on it, and other things.  
Answered on Jun 23rd, 2015 at 12:10 PM

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