chargeoffs

That ought to be one hell of a hearing, as each CEO and Board Chairman is asked “Just why did you announce these large chargeoffs immediately after we passed major Health Care Reform?” and each one answers “Because Federal Securities Law required us to.”

The Volokh Conspiracy » The Wave of Corporate Writedowns 2010

One of the features of CC debt is that chargeoffs are way higher than default percentages.

Coyote Blog » Blog Archive » Hair of the Dog, Part 3 2009

That ought to be one hell of a hearing, as each CEO and Board Chairman is asked “Just why did you announce these large chargeoffs immediately after we passed major Health Care Reform?” and each one answers “Because Federal Securities Law required us to.”

The Volokh Conspiracy » The Wave of Corporate Writedowns 2010

Prices for fresh chargeoffs — loans that are sold after the lender gives up on collecting on them — shrank to 4% to 8% of face value in 2009 from 8% to 13% of face value in 2008.

Boom in Debt Buying Fuels Another Boom Jessica Silver-Greenberg 2010

So, Jessica is saying the landscape has changed, credit card companies reacting to higher levels of chargeoffs -- that's customers who aren't paying their bills by penalizing us who do pay our bills on time.

CNN Transcript Oct 6, 2009 2009

Now problems are spreading to credit cards and other types of loans, resulting in expectations by WaMu for rising loan chargeoffs.

WaMu, Caught in Mortgage Turmoil, Posts Big Loss 2008

Home-equity loan defaults and delinquencies have for several quarters been above historic norms and J.P. Morgan expects chargeoffs to rise further to about 1.5% of total loans this quarter from 1.05% last quarter.

J.P. Morgan Posts 34% Fall in Net 2008

Problems have also spread to credit cards and other types of loans, meaning WaMu has been bracing for a steep rise in loan chargeoffs.

Washington Mutual to Get $5 Billion Matthew Karnitschnig, Valerie Bauerlein 2008

Yesterday we erroneously reported that while chargeoffs are supposed to disappear from your report after seven years, you can get that clock reset by making payments or otherwise communicating with the creditor.

Correction: Negative Items Are Supposed To Fall Off Credit Reports After 7 Years, No Matter What - The Consumerist 2007

Yesterday we erroneously reported that while chargeoffs are supposed to disappear from your report after seven years, you can get that clock reset by making payments or otherwise communicating with the creditor.

The Consumerist: April 2007 Archives 2007