What is this?! - Financial Management

Manchu Ma'am · 04-02-2009, 01:13 AM

What is a "Charge off Adjustment???"

My BOA credit card just went from $900.00+ to $0.00

Manchu Ma'am · 04-02-2009, 09:27 AM

BMichelleB · 04-02-2009, 09:36 AM

call and ask

gunsgirl · 04-02-2009, 09:37 AM

it means they gave up trying to get money from you- it looks very bad on your credit report.

Manchu Ma'am · 04-02-2009, 09:37 AM

I think the bank just got tired of me not being able to pay and said F this we're closing her account and putting it on her credit...

stupid no money having self... :/

~~goldilockz~~ · 04-02-2009, 09:37 AM

That's strange! I'd call. Oh, and when you do, write down who you're talking to, and the time and date. BoA is notorious for horrible customer service. Good luck!!

Manchu Ma'am · 04-02-2009, 09:40 AM

No... I'm pretty sure they did a credit card write off and put it on my credit...

greattttttttttttttttt glad DH has NO credit at least with him I can GUARANTEE he pays it!

rosebud* · 04-02-2009, 09:42 AM

They charged it off and basically will sell it to a collection agency who will attempt to collect the amount owed.
A charge off is when the company declares a loss from your account. you are still responsible for paying and will see it on your credit report as a charge off.

~~goldilockz~~ · 04-02-2009, 09:43 AM

That sucks, girly. Do you have other cards with balances?

Manchu Ma'am · 04-02-2009, 09:43 AM

Yeah i have other CC's

04-02-2009, 01:13 AM	#1 (permalink)
Manchu Ma'am First Korea, Now TEXAS! Join Date: Nov 2007 Location: Ft. Bliss - El, Paso, TX Posts: 3,299 Blog Entries: 1 Classifieds: (1) Activity: 69% Longevity: 34%	What is this?! What is a "Charge off Adjustment???" My BOA credit card just went from $900.00+ to $0.00 __________________

04-02-2009, 09:27 AM	#2 (permalink)
Manchu Ma'am First Korea, Now TEXAS! Join Date: Nov 2007 Location: Ft. Bliss - El, Paso, TX Posts: 3,299 Blog Entries: 1 Classifieds: (1) Activity: 69% Longevity: 34%	__________________

04-02-2009, 09:37 AM	#4 (permalink)
gunsgirl I love cats Join Date: Jul 2007 Location: kingsland GA/ HITRON JAX Posts: 4,372 Classifieds: (3) Activity: 60% Longevity: 39%	it means they gave up trying to get money from you- it looks very bad on your credit report. __________________ GA licensed Realtor Dawn

04-02-2009, 09:37 AM	#5 (permalink)
Manchu Ma'am First Korea, Now TEXAS! Join Date: Nov 2007 Location: Ft. Bliss - El, Paso, TX Posts: 3,299 Blog Entries: 1 Classifieds: (1) Activity: 69% Longevity: 34%	I think the bank just got tired of me not being able to pay and said F this we're closing her account and putting it on her credit... stupid no money having self... :/ __________________

04-02-2009, 09:40 AM	#7 (permalink)
Manchu Ma'am First Korea, Now TEXAS! Join Date: Nov 2007 Location: Ft. Bliss - El, Paso, TX Posts: 3,299 Blog Entries: 1 Classifieds: (1) Activity: 69% Longevity: 34%	No... I'm pretty sure they did a credit card write off and put it on my credit... greattttttttttttttttt glad DH has NO credit at least with him I can GUARANTEE he pays it! __________________

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04-02-2009, 09:36 AM	#3 (permalink)
BMichelleB Account Closed Join Date: Jul 2008 Posts: 3,403 Classifieds: (1) Activity: 31% Longevity: 22%	call and ask

04-02-2009, 09:37 AM	#6 (permalink)
~~goldilockz~~ Banned Join Date: Feb 2007 Posts: 25,823 Classifieds: (0) Activity: 0% Longevity: 47%	That's strange! I'd call. Oh, and when you do, write down who you're talking to, and the time and date. BoA is notorious for horrible customer service. Good luck!!

04-02-2009, 09:42 AM	#8 (permalink)
rosebud* rosebud*<3 Brittany Jo && <3 thekels9 Join Date: Nov 2005 Location: [wherever his heart is] Posts: 32,651 Blog Entries: 2 Classifieds: (0) Activity: 50% Longevity: 67%	They charged it off and basically will sell it to a collection agency who will attempt to collect the amount owed. A charge off is when the company declares a loss from your account. you are still responsible for paying and will see it on your credit report as a charge off. __________________

04-02-2009, 09:43 AM	#9 (permalink)
~~goldilockz~~ Banned Join Date: Feb 2007 Posts: 25,823 Classifieds: (0) Activity: 0% Longevity: 47%	That sucks, girly. Do you have other cards with balances?

04-02-2009, 09:43 AM	#10 (permalink)
Manchu Ma'am First Korea, Now TEXAS! Join Date: Nov 2007 Location: Ft. Bliss - El, Paso, TX Posts: 3,299 Blog Entries: 1 Classifieds: (1) Activity: 69% Longevity: 34%	Yeah i have other CC's __________________