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#1366082 - 03/30/10 02:33 PM Consumer loan chargeoff
QueenBB Offline
100 Club
Joined: Jan 2006
Posts: 190
Bank in Texas (if it matters)
Must you give a consumer any type of notice before charging off his consumer loan?

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Lending Compliance
#1366124 - 03/30/10 02:58 PM Re: Consumer loan chargeoff QueenBB
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
No. Charge-off is an internal coding for the bank's books. You will need to be sure and notify the customer if you report negative credit history to the credit bureau.
Just working here until I get my letter from Hogwarts.

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