No. of Recommendations: 0
Granted, many Americans could give a rats tail about morals...but some of us still try to be honest and show integrity.

Actually, I am a very moral person, but the OP made it sound like the debt had been taken care of already and was no longer pursuing it with her. In my experience with others and their debt problems, a charge off happens when the creditor has done all they can to get the debt repaid, but has not been successful. After 7 years, charge off's should be past the statue of limitations and no longer show up on their credit report.

I agree that the best thing for her to do is to pay off the old debt. What I was opposed to was taking the old debt and making it a new debt by placing it on a new card. She should pay the old debt and not move it to a new account if at all possible.
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement