when does \"days late\' start? how long do i have until it gets charged off?

I stopped paying 8/27/11-- how many days late am I and what risk am i for getting them charged off to collections?

3 Answers

The charge-off period for installment loans like mortgage is set at 120 days and 180 days for revolving credit like credit card debts. The number of days is calculated from the date of payment delinquency. If the debts have been charged off by your creditors, they will show up on your credit report and negatively affect your credit scores.


You are late by around 6 months. The CA can charge-off your account anytime. Why have you stopped making payments? 


Chargeoff is usually around 180 days.  Your account can be sent to a collection agency even if you are a day late...but usually they assign them after charge off.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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