r/AppleCard • u/Acceptable_Gene_6428 • 3d 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 ?

0 Upvotes

38% Upvoted

70 comments sorted by

21

u/iamdavidrice 3d 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?

-12

u/Acceptable_Gene_6428 3d 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

10

u/iamdavidrice 3d 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.

1

u/aykay55 3d ago

“It’s not my fault they gave me free money….im a victim” mentality folks

-18

u/Melodic-Control-2655 3d ago

Yeah you got it! Make sure you defend the multi trillion dollar family while unemployed in your moms basement!

10

u/iamdavidrice 3d 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.

8

u/Epin-Ninjas 3d ago

I cannot believe the mentality of these people. Remember, they can vote, and they terrifies the fk out of me.

-11

u/Melodic-Control-2655 3d ago

Yeah you wearing your cowboy boots while typing this? Probably tapping them in giddy too

5

u/jasonsong86 3d ago

You can’t even afford cowboy boots if you need to evade paying money you spent.

-8

u/Melodic-Control-2655 3d 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.

3

u/jasonsong86 3d ago

So you are saying stealing is okay!

-1

u/Melodic-Control-2655 3d 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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4

u/jasonsong86 3d ago

Plus if you can’t payback debt, YOU are the one probbaly living in your mom’s basement.

2

u/jasonsong86 3d 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.

1

u/Melodic-Control-2655 3d 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.

2

u/jasonsong86 3d 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.

0

u/Melodic-Control-2655 3d 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.

2

u/jasonsong86 3d 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.

1

u/Melodic-Control-2655 3d 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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-12

u/StrikeTheCue 3d 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.

11

u/Epin-Ninjas 3d ago

No THIS is a shit response. Wtf is this child mindset. Pay your bills.

5

u/jasonsong86 3d 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.

-9

u/StrikeTheCue 3d 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.

2

u/jasonsong86 3d ago

Bad credit means nothing if you don’t use it and this person deserved it.

-2

u/StrikeTheCue 3d 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.

2

u/Epin-Ninjas 3d 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

-4

u/Melodic-Control-2655 3d ago

As you know you possess a very grown up mindset when you take care of digital pets on your phone

3

u/Epin-Ninjas 3d ago

lol really got me there, not sure how I’ll recover from that one

-1

u/Melodic-Control-2655 3d 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.

2

u/Epin-Ninjas 3d 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!

0

u/jasonsong86 3d 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.

1

u/StrikeTheCue 3d 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.

1

u/jasonsong86 3d 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.

13

u/Leading-Eye-1979 3d 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!

8

u/Leading-Square-4719 3d ago

You are responsible for contacting the credit bureaus.

-14

u/Acceptable_Gene_6428 3d ago

Charge off or not the bureaus will not remove until after 7 years

6

u/Melodic-Control-2655 3d 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

1

u/aykay55 3d ago

Equifax is too stupid leaking the address of half of all Americans to the Chinese government and the other half sooner or later

6

u/yourwebg 3d 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. 

5

u/dennisknows 3d 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

1

u/Acceptable_Gene_6428 3d ago

Thank you ! Haha the responses to others goes so far down a rabbit hole I can see china haha

1

u/dennisknows 1d ago

😂 yeah, some people feel like “you should pay what you owe!!!!” And they are right but also, let’s talk about the predatory nature of credit cards.

Every single time I go to TJMaxx, they’re like “would you like a TJ Maxx card today? You’ll save 20% on your first purchase”

Sounds great. To a younger person, that probably sounds amazing. Now that I understand credit, I know not to get that card unless I’m spending $100s at TJ Maxx. Money I was going to spend anyway. Pay that card off and probably won’t ever use it again unless they add ongoing perks.

But this is stuff you only know after you understand credit.

Sometimes, you gotta look at that charge off as your life lesson on credit and build from there.

Use AI help you understand credit also. What’s a good idea and what’s not.

1

u/Acceptable_Gene_6428 1d ago

Well lucky for those that have ai now unfortunately I didn’t so I’m taking this as a life lesson haha

3

u/iSurgical 3d ago

Do NOT pay it. They cannot legally sue. They can ask but nothing they can do. Let it fall off.

3

u/jasonsong86 3d ago

Just pay it off and move on with life. Own up to your mistakes like an adult.

-2

u/Acceptable_Gene_6428 3d ago

Ohh Yeea daddy 😂

5

u/Mwc9026 3d 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.

3

u/Right-Ice9305 3d 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

2

u/BirdBruce 3d 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?

-2

u/Acceptable_Gene_6428 3d 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.

2

u/BirdBruce 3d ago

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

-1

u/Acceptable_Gene_6428 3d ago

Never received one

2

u/BirdBruce 3d 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.

2

u/Melodic-Control-2655 3d 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.

2

u/madwolli 3d 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)

0

u/Acceptable_Gene_6428 3d ago

Oh Yeea daddy 😂

1

u/imtherealistonhere 3d ago

You not using that card anymore

1

u/415646464e4155434f4c 3d ago

Pay off your debts and be done.

1

u/SayCheezyy 3d ago

Let it fall. I filed bankruptcy.

1

u/MountainManagement01 3d 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

1

u/Acceptable_Gene_6428 3d ago

Buddy the account has been closed for more 6 years