antipode12
Junior Member
NYC, NY
Hi - After racking up sizable debt with my ex-fiancee (she: sometimes co-applicant, sometimes authorized user, sometimes just a mooch), we have separated. She refused to contribute $ after the split, so I paid the minimums for as long as I could. (I paid 10s of thousands - she paid zero.)
Since then, the accounts have been unpaid, and now list on the credit report as "charged off".
I have several questions that I hope you can help with.
1) Does the charge-off disappear from the credit report after 7 years if it remains unpaid? (Or does it renew the 7 year window each month?)
2) Does "charge-off" mean that the bank no longer holds the debt? (And that a Collection Agency does?)
3) What is the likelihood in this financial climate that I am sued for the debt? (Can I ride out the 7 years?)
4) Can I refer the Collection Agencies to my ex-fiancee? (They don't seem to have her new phone or address.)
5) Would referring my ex-fiancee to the Collection Agency "re-start" the 7-year window?
6) If I settle with the Collection Agencies for a lesser sum, does that benefit my credit? Is there any other benefit?
7) Any other ideas? What would you do?
Thanks a ton!
Hi - After racking up sizable debt with my ex-fiancee (she: sometimes co-applicant, sometimes authorized user, sometimes just a mooch), we have separated. She refused to contribute $ after the split, so I paid the minimums for as long as I could. (I paid 10s of thousands - she paid zero.)
Since then, the accounts have been unpaid, and now list on the credit report as "charged off".
I have several questions that I hope you can help with.
1) Does the charge-off disappear from the credit report after 7 years if it remains unpaid? (Or does it renew the 7 year window each month?)
2) Does "charge-off" mean that the bank no longer holds the debt? (And that a Collection Agency does?)
3) What is the likelihood in this financial climate that I am sued for the debt? (Can I ride out the 7 years?)
4) Can I refer the Collection Agencies to my ex-fiancee? (They don't seem to have her new phone or address.)
5) Would referring my ex-fiancee to the Collection Agency "re-start" the 7-year window?
6) If I settle with the Collection Agencies for a lesser sum, does that benefit my credit? Is there any other benefit?
7) Any other ideas? What would you do?
Thanks a ton!