Can a charged-off debt still be collected? – Q&A

People call and ask us this question when attempting to repair their credit. The answer is i simply….YES.

  • A creditor still has the right to collect on a debt after they have charged the debt off.
  • Most installment loan debts will be charged off 120 days after non payment.
  • Most other debts will be charge off 6 months after non-payment.
  • The IRS allows a creditor to take the charge off as a tax deduction against profits but contrary to popular belief the creditor can continue to collect the debt up to the specific statutes of limitations (varies state by state).

Here is a definition of a charge-off. Great info.

For more information on Credit Repair and how to properly deal with a charge off you and contact our company Toll Free at 877.842.5215 or feel free to request a FREE Credit Repair Consultation online.


Nikitas Tsoukalis, President