In a credit card debt how long do they keep charing intrest even after 6 years when debt is written off?


credit card debt
Tramadol asked:


In England credit card debt is written off file after 6 years, does that mean they will stop charging the extra costs like intrest? when do they stop intrest if they even can? thanks.

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One Response to In a credit card debt how long do they keep charing intrest even after 6 years when debt is written off?

  1. kshawks18
    August 13, 2009 at 7:32 pm

    Charge off is only an accounting term. The lender is saying that they don’t expect to collect the debt and are not willing to claim it as an asset of the company any longer. That’s all it means, the debit is still valid and owed. Interest will continue to be charged until you pay off the bill.

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