Posted on: 31st Oct, 2010 04:18 pm
What are the implications in Colorado for a charged off loan?
Welcome Guest,
Once the lender charges off the loan, it becomes uncollectible. It means that the lender will not collect the dues from you any further. However, you need to find out whether or not the lender has sold off the account to a collection agency. If the account has been sold off to a collection agency, then the collection agency will come after you in order to recover the dues.
Once the lender charges off the loan, it becomes uncollectible. It means that the lender will not collect the dues from you any further. However, you need to find out whether or not the lender has sold off the account to a collection agency. If the account has been sold off to a collection agency, then the collection agency will come after you in order to recover the dues.