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#2250037 - 03/03/21 05:22 PM Charged off Account
Susielou Offline
Gold Star
Joined: Aug 2005
Posts: 337
Midwest
We have a charged off account that received a tax refund today. It is not a closed account, just restrictive posting. Can we apply the tax refund to this account?

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Deposits and Payments
#2250046 - 03/03/21 06:22 PM Re: Charged off Account Susielou
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,965
Galveston, TX
What does restrictive posting mean? The customer can freely use it and they think it is still open?
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#2250051 - 03/03/21 06:43 PM Re: Charged off Account Susielou
BrianC Online
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BrianC
Joined: Nov 2004
Posts: 6,240
Illinois
The fact that your core has a separate account status code for "Closed" and "Charged Off" doesn't make the account any less closed or your deposit contract any less void.

Your only option is to return the credit "Account closed"
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