Home Loans and Support

Do Credit Card Companies Write Off Debt?

This is a very important question, and the answer is yes… in some instances and in some situations, credit card companies do write off debt. Usually, a debt is written off if the person owing the credit card company completely stops paying. In this case, the credit card company will usually write off the debt, sell the debt to a collection agency, and this agency will then pursue collections. 

Getting your debt written off by a credit card company is something that really varies by incident, and is not something that you can definitely plan on. Some people think that if they just ignore the credit card company’s attempts to bill them, and stop paying anything altogether, that they will get their debt written off. While this has happened before in the past, it is not something that you should try. Many professionals agree that, instead of worrying about how to get your debt written off, you just try to avoid credit card debt altogether. While this might be tough, it is a lot tougher meeting the minimum balances of a credit card debt, and interest rates over 20% (which is normal on a credit card), can really hammer you if you miss a payment. 

So, getting your debt written off is really not your best bet, unless you already see no other option. In this case, you might want to contact a lawyer and see what he/she has to say.

Share This!

About Moe Bedard

My name is Maurice Bedard, but most people call me Moe. I am the founder of America's #1 Mortgage Forum, LoanSafe.org, and also a website design firm called We Create Web Designs. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications. I currently live in Carlsbad, California with my beautiful wife and children.

Comments are closed.


"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy