5 votes

What does the bank actually do with a debt that can never be collected?

If the bank has no reasonable expectation of collecting on a debt, it is "written off" as a "bad debt" expense and removed from the bank's assets on its balance sheet. It can also ...
D Stanley's user avatar
  • 135k
4 votes

Credit card company won’t take their money

The CC could easily keep a bad transaction around for a couple weeks. Sometimes a regular charge can be "pending" for a while on their systems before it finally fails. I would wait until 30 ...
Nosjack's user avatar
  • 8,697
3 votes

What does the bank actually do with a debt that can never be collected?

united-states As with almost all private debt in the US, the debt is generally sold to a debt collection company for pennies on the dollar, often as a bundle of "good" and "bad" ...
GOATNine's user avatar
  • 2,441
3 votes

Credit card company won’t take their money

If the credit card company says the account is paid off and closed, and you have that as a printed statement, don't worry about it. If you don't have it in writing, get it in writing.
keshlam's user avatar
  • 46.5k

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