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#2238138 - 06/16/20 01:34 PM Charge off notice?
SmallBank3 Offline
Member
Joined: Nov 2019
Posts: 58
When we charge off an account do we need to send a final notice to the customer even though we provided notice already indicating if that by a certain date if the account is not brought positive it will be charged off? Anything else I should be aware of with charging off the account? I have not had the opportunity to be involved in a charge off yet so any insight is appreciated!

This was a customer who was a victim for CC fraud and we are out $8,000. Customer indicated he is not bringing the account current and that he "closed that account last week." … not understanding that you can't just close your DDA when it's -8k and walk away. We sent the notice the same day he indicated he would not be bringing the account positive and the deadline has come and gone with no communication. Curious if any have pursued a judgement for this type of loss?
Last edited by SmallBank3; 06/16/20 01:35 PM.
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General Discussion
#2238147 - 06/16/20 02:18 PM Re: Charge off notice? SmallBank3
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,225
Galveston, TX
Charge off is an accounting function and really has no impact on the consumer. They owe you the same debt as before you processed the charge off tickets.
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