I just received a letter from one of my credit card companies which I haven't made a payment to in 5 months. I am not working and am considering bankruptcy as I owe a lot of credit card debt. The message reads:
"The delinquency on the above referenced account has reached a critical point. This account may be charged off as a bad debt within the next few months, if you do not take action."
How can them writing off my debt to them a bad thing for me?
Confused
"The delinquency on the above referenced account has reached a critical point. This account may be charged off as a bad debt within the next few months, if you do not take action."
How can them writing off my debt to them a bad thing for me?
Confused