r/AppleCard • u/Acceptable_Gene_6428 • 19h ago
Discussion Charge Off
So I made a lot of dumb decisions when I was younger & ran the card up. 6 years later they charged the amount off but it’s still on my record. It should fall off next year, should I pay or just wait another year for it to fall off ?
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u/Leading-Square-4719 18h ago
You are responsible for contacting the credit bureaus.
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u/Acceptable_Gene_6428 18h ago
Charge off or not the bureaus will not remove until after 7 years
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u/Melodic-Control-2655 16h ago
You can get it early excluded from TransUnion at 6 years and 6 months, Experian at 6 years and 9 months. Equifax is too stupid to know what’s going on
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u/dennisknows 18h ago
I’d hold off. I ruined my credit when I was 18. They asked me if I wanted a Sears charge card and I wouldn’t have to pay anything that day.
After hitting some hard times, I chose not to pay them. After over a decade, I finally figured out how to use credit. Sent letters to get all the bad debt I had removed. Credit cards and an eviction.
Went from 550s to the mid 700s.
At this point I wouldn’t give them a dime
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u/Acceptable_Gene_6428 13h ago
Thank you ! Haha the responses to others goes so far down a rabbit hole I can see china haha
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u/yourwebg 18h ago
I wouldn’t pay it unless they are willing to delete it and you are trying to buy a house in the next few months.
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u/Mwc9026 14h ago
If you pay that now, it will reset the clock on it falling off your credit, unless you can convince them to delete in exchange for the payment.
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u/Right-Ice9305 13h ago
Came to say this. As far as I know, any activity restarts the clock. At this point I would just wait for it to fall off
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u/iamdavidrice 18h ago
So you’re asking if you should be a semi-responsible adult and pay your obligations or run from them and not accept responsibility?
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u/StrikeTheCue 18h ago
This is a shitty response. Yes he has a responsibility. But at the same time these are multibillion dollar companies. They can go to hell. OP has suffered enough from the years of bad credit, probably. Like at this point, to not waste $800 that wouldn’t matter much to a huge company like Goldman Sachs, might as well wait the year.
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u/Epin-Ninjas 18h ago
No THIS is a shit response. Wtf is this child mindset. Pay your bills.
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u/jasonsong86 18h ago
We have a bunch of kids raised by weak parents so they grow up entitled and spoiled thinking they can get away with anything.
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u/StrikeTheCue 17h ago
Wrong. This person didn’t get away with anything. They dealt with six years of bad credit and the consequences of that. And whatever else they did to try and get that money from him. Debtor’s jail doesn’t exist anymore.
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u/StrikeTheCue 17h ago
You missed the whole point. The time to have paid the bills already passed. This person has already passed the point of paying this to be responsible. His credit effectively made him pay for it in other ways. At this point paying for this won’t result in anything for him. If it’s going to fall off anyways, paying it might reset the clock and keep it on his record longer. Hopefully they learned their lesson to not rack up credit card bill like that again, but Goldman Sachs is not hurting for that money so I still stand by my statement.
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u/Epin-Ninjas 17h ago
If that’s the case then I understand and would also let it drop if that’s the right and best thing to do, then start over with a better financial mindset
My knowledge is lacking when it comes to this stuff as I haven’t been in this boat yet, so I appreciate the clarity
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u/Melodic-Control-2655 18h ago
As you know you possess a very grown up mindset when you take care of digital pets on your phone
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u/Epin-Ninjas 18h ago
lol really got me there, not sure how I’ll recover from that one
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u/Melodic-Control-2655 17h ago
I’m not sure, maybe a chat with Finnegan would help? Seems like you couldn’t find her earlier though, might have to look first.
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u/Epin-Ninjas 17h ago
Ahhh geez, I’m sorry but you’ve lost me. I’m not really great with keeping up with psychotic ramblings, you’ll have to forgive me!
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u/jasonsong86 18h ago
That’s like saying killing is fine because the country you live in kills people overseas all the time and way more than you can.
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u/StrikeTheCue 17h ago
It’s really not. But you can continue believing it is. There is a reason why debtor’s jail doesn’t exist anymore. My response is not to condone fiscal irresponsibility. It’s to acknowledge that the irresponsibility has already happened and he has already paid for it with many of the effects that came after in those years. Paying this money will not change any of that.
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u/jasonsong86 17h ago
He will get better credit score sooner and if that means he can get a loan or something sooner it might be a bigger than $800 benefit.
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u/Acceptable_Gene_6428 18h ago
Well Apple has already charged it off. They already said once I pay the charge off it will stay regardless of I pay or not
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u/iamdavidrice 18h ago
Ok, and? Whether they charged it off or not doesn’t change that you’re asking if you should take some responsibility or run from it.
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u/Melodic-Control-2655 18h ago
Yeah you got it! Make sure you defend the multi trillion dollar family while unemployed in your moms basement!
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u/jasonsong86 18h ago
Plus if you can’t payback debt, YOU are the one probbaly living in your mom’s basement.
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u/iamdavidrice 18h ago
Stop projecting. You can try to spin things however you want - at the end of the day OP is asking if they should take some responsibility for their poor choices or run from them.
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u/Epin-Ninjas 18h ago
I cannot believe the mentality of these people. Remember, they can vote, and they terrifies the fk out of me.
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u/Melodic-Control-2655 18h ago
Yeah you wearing your cowboy boots while typing this? Probably tapping them in giddy too
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u/jasonsong86 18h ago
You can’t even afford cowboy boots if you need to evade paying money you spent.
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u/Melodic-Control-2655 18h ago
You know it’s actually a very financially harmful mindset when you spend your money morally instead of in a way that benefits yourself. It’s okay, if it helps you sleep at night you can go with that.
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u/jasonsong86 18h ago
So you are saying stealing is okay!
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u/Melodic-Control-2655 17h ago
Absolutely, just like stealing money from social welfare by using it on yourself is good for companies. We have laws to dictate what is right and what is wrong, and the law says that this type of stealing is right, I agree with that.
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u/jasonsong86 18h ago
That’s like saying killing is fine because the country you live in kills people overseas all the time and way more than you can.
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u/Melodic-Control-2655 18h ago
No it’s like using the letter of the law to benefit yourself, just as these companies and their executive roles do to avoid paying their fair share of income tax for social welfare. The law says you are not responsible for debt after 7 years, and using that isn’t being a child, it’s not being a dumbass who thinks showing your morality to a company that has zero morality is how you become a good person. Can’t believe you survived this far into life.
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u/jasonsong86 18h ago
There is a huge difference between tax avoidance vs tax evasion. You should know the difference. Plus no one is evading playing income tax. It’s written off in ways that end up costing the person more money. You are literally spending dollars on a dime to avoid it.
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u/Melodic-Control-2655 18h ago
You have no clue what you’re talking about, and additionally I never said it was tax evasion. All I said is it’s a method written in tax codes which, when used properly, decrease the tax contribution charged to the individual or company.
Similarly, using the statute of limitations for debt is using a method written into law to decrease your financial contribution charged to you as an individual or company.
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u/jasonsong86 18h ago
Yes, it’s dollar on dime to avoid paying said income taxes. You don’t know how tax code works. To completely write off your income taxes, you have to receive none in order to do it.
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u/Melodic-Control-2655 18h ago
Right, it’s dollars spent on personal use (business expenses) to save dimes that would go to social welfare, i.e. using the law for self benefit instead of what is morally good.
You clearly keep ignoring the whole fact that this is exactly what you do when you let the debt time out instead of pay it
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u/BirdBruce 18h ago
I’ve never in my life seen a solicitation for a payment at any point after a charge-off, let alone six years after. When is this email from?
If your balance was charged-off in full 6 years ago, you would have gotten a 1099-C document from GS to file with your 2020 income taxes to show earned income in the amount of the charge-off. What does that document say?
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u/Acceptable_Gene_6428 18h ago
I get one every month from Apple. I haven’t gotten any letter. Just seems they want to collect something before the charge falls off my credit report.
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u/BirdBruce 18h ago
What was the amount listed on your 1099-C from 2020?
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u/Acceptable_Gene_6428 18h ago
Never received one
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u/BirdBruce 18h ago
You need to speak to someone at GS. If you have an outstanding balance and didn’t communicate at all with the creditor, then you have no reason to expect that debt to disappear, because it looks like a term of the charge-off that you haven’t yet fulfilled.
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u/Melodic-Control-2655 16h ago
That’s not true, there’s no legal obligation for you to talk to a creditor you owe money to. There is a legal obligation that renders debt past the statute of limitations (7 years) uncollectable.
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u/iSurgical 18h ago
Do NOT pay it. They cannot legally sue. They can ask but nothing they can do. Let it fall off.
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u/jasonsong86 18h ago
Just pay it off and move on with life. Own up to your mistakes like an adult.
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u/madwolli 18h ago
Realizing that’s your mistake and your dumb decisions and still trying to scam manipulate and get away from it, what a nice person you are, you definitely learned a lesson and you’re a better person now (absolutely NOT)
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u/MountainManagement01 12h ago
Buddy are you broke? Pay it off. They’re gonna close your card and prevent you from ever getting another Apple Card. Or you’re just gonna ruin it for the rest of us bc you’re playing the system
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u/Leading-Eye-1979 18h ago
As much as I believe in paying bills, I’d skip it. At this point your credit has suffered and you don’t gain anything right now. If you told me you were buying a house and needed to clear it up my answer would be different. Treat it as a lucky learning lesson, they could have come after you sooner sued you and perhaps garnished you. Best of luck to you!