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#1366082 - 03/30/10 02:33 PM Consumer loan chargeoff
QueenBB Offline
100 Club
Joined: Jan 2006
Posts: 190
TX
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
Oklahoma
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.
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