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charge off of CC


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As a general rule, charge off doesn't really mean anything to the debtor. Its an accounting term that means "charge against accrued income". They still own it, you still owe it, they can still try to collect it.

It also has little to do with when or if they get a 3rd party collector involved. Some CCs have inside collection departments. They may carry the account for years. Others turn it over to outside collections in 60-90 days. None of this has anything to do with "charge off".

And, again, depending on the creditor they may eventually sell the debt to a junk debt buyer (JDB)...who may or may not get a collection agency (CA) involved. If the account is sold, your credit reports should read "sold to another lender" and the balance should be $0.

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