Legal Question in Credit and Debt Law in New York

debt collection

when does an unpaid debt become a charge off.? is there a set amount of time??


Asked on 12/10/08, 1:31 pm

1 Answer from Attorneys
Frank Loscalzo Law Office of Frank Loscalzo

Re: debt collection

There is not set time for a charge off.

At some point in time (for tax purposes) your creditor will claim the loan as a loss, that is what a charge off is.

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Answered on 12/10/08, 2:28 pm


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