Charged off shall have a meaning correlative thereto.
Charged off means an account that has been identified by the creditor as an uncollectable debt.
Charged off means a debt that a creditor has written off as a loss, but that is still subject to collection ac- tion.
Examples of Charged off in a sentence
In its contracts or other agreements with Debt Buyers, Chase will require Debt Buyers to comply with all applicable state and federal consumer protection and debt collection laws and regulations, including the Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692 et seq., laws prohibiting the imposition of interest on Charged-Off Accounts, and laws regarding the assessment of fees and interest.
In its contracts or other agreements with Debt Buyers, Xxxxx will prohibit Debt Buyers from imposing interest on Charged-Off Accounts unless permitted by law.
More Definitions of Charged off
Charged off means a debt that a creditor has written off as a loss, but that is still subject to collection action.
Charged off means a Loan on which there have not been any payments made for at least 180 days, if any payments had been due during such period.
Charged off and “Charge-Off” refer to Accounts treated by Chase as a loss or expense because Chase has determined that, under the Federal Financial Institutions Examination Council’s Final Notice of Uniform Retail Credit Classification and Account Management Policy, 65 Fed. Reg. 36903 (June 12, 2000), or other relevant guidelines, repayment of the Debt is unlikely.
Charged off means, for purposes of
Charged off when used in reference to Receivables, means the cumulative Principal Balance of an account or accounts written off, net of recoveries.
Charged off has a corresponding meaning.
Charged off. . That means that the servicer informs the investor of the credit event; the credit enhancements are “tapped”; and, the investor is paid in full. Since the investor is paid in full, there is no longer a debt obligation. The left over data is what is purchased and serviced by Asset Acceptance.