CO status on truecredit (Chargeoff vs. Collection) what is the difference?

[beeboah]

In actuality, I know the difference between the two, but I want to know what the difference is on a report when a creditor asserts that an account is in Collection every month vs. Chargeoff every month.

Again, I know what the difference is, but why would a creditor report it one way or the other?

[iecus]

Chg off normally means they write off the chg as a lost, collection or CA normally means they are using a inhouse or out source company to retrieve that money from you. I have also seen the OC have something written as a chg off, but then also sent it to a collections and those are things I hate to see, something like that should just show trans or sold to another company.