I had to look up “charge off” (I always pay my bills ya know) and yeah it’s not a positive thing.
https://www.credit.com/blog/charged-off-as-bad-debt/
“Charged off doesn’t mean your debt is forgiven. Don’t be misled into believing that because the creditor wrote off your balance that you no longer need to pay the debt.
Even when a company writes off your debt as a loss for its own accounting purposes, it still has the right to pursue collection. This could include suing you in court for what you owe and requesting a garnishment of your wages. Unless you settle or file for certain types of bankruptcy or the statute of limitations in your state has been reached—you’re still responsible for paying back the debt.”
Seven years. If you don’t make a payment on an account for seven years, it falls off your credit report.
Understand that your credit will be shit for those seven years, but if you’re in such a bad spot that you can’t see any way of getting caught up, your credit score is probably doomed either way.
They think this is a total win!
One of them is so close…
Like they are just within a hair of getting it.
Trust me bro. Mr brother’s friend’s wife totally got away with driving shitfaced without a license because she told the cops they were unable to arrest her under section 10.01-B of the conscribed legislative rights act of 1491. Cop totally shit himself rofl it so works!!1
At first she said “pursuant to ucc 3.1 subsection 2” but thank goodness I was on the phone and shouted “no 10.01-B!”
The cops attitude sure did change once she cited the right case.
These people think they are wizards and just need to find the right incantation
I mean… Kinda. If you rack up a huge bill on credit, then don’t pay, the US doesn’t jail you. So you get the same outcome by doing nothing as you do with all this sovereign citizen nonsense. But the outcome is you don’t pay your debt.
It will be discharged, then sold and sold and sold and eventually written off as a tax loss to some other corporation. One of the things needed to keep a debt current is talking to the creditor. These sovereign citizen idiots don’t agree that the debtor is who is on the other end of the phone which is exactly what you need to do to not get the clock reset.
I see this as a Task Failed Successfully situation
