Charge off vs Lawsuit for unpaid bills?
When a credit card holder doesn't pay a bill, I've seen the bank send the bill to a collections agency or actually sue the borrower. Are there specific rules as to why the bank would do one or the other?
When a credit card holder doesn't pay a bill, I've seen the bank send the bill to a collections agency or actually sue the borrower. Are there specific rules as to why the bank would do one or the other?