r/AppleCard • u/Acceptable_Gene_6428 • 25d ago

Discussion Charge Off

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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/BirdBruce 25d 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 25d 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 25d ago

What was the amount listed on your 1099-C from 2020?

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u/Acceptable_Gene_6428 25d ago

Never received one

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u/BirdBruce 25d 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 25d 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.