How long can a charged off credit card account be collected? – Nora
Filed Chapter 13 in 2007
Never late on credit card payment until banckruptcy filing.
Credit card company charged off account.
Can changed off account be collected after 5 years?
A charged off credit card can be collected forever. I should be clear about what I am saying here.
A credit card gets charged off due to an accounting principle that the credit issuer must follow. That does not mean the debt goes away.
Credit cards get charged off no later than 180 days of consecutive non payment, though there are instances where the charge off appears to have occurred after 210 days. Once the debt is charged off, credit card banks will assign the debt to a collection agency, sell the account to a debt buyer, or place the account with an attorney for collection. The debt remains collectible after the charge off in either of these three instances.
What does affect the collectible nature of a debt is the statute of limitations in your state, but only to the extent that a legitimate lawsuit can be filed in order to collect. More on that in a moment.
Bankruptcy dismissed, what happens to my credit card debt?
Chapter 7 and chapter 13 personal bankruptcy filings do get dismissed for a myriad of reasons. Generally speaking, if you filed a chapter 13 bankruptcy that later is dismissed, even if you make payments on the plan for some time, the credit card debts are still there, and at the full balances (minus what had been paid through the bankruptcy trustee) are collectible.
You filed chapter 13 bankruptcy in 2007, but were there ever any payments made to credit card debts that were part of the chapter 13 payments you made? If you did make payments on the plan, when was the last payment to the bankruptcy trustee? You need to compare these timelines to determine how long you have until your states statute of limitations to sue on a credit card debt will expire. The SOL expiring does not terminate the debt per say, but it will broaden your ability to deal with the debt on your own terms rather than having a constant concern for being sued for the debt.
For more on charge off and debt collection see: https://consumerrecoverynetwork.com/my-credit-card-account-just-charged-off-and-a-debt-collector-keeps-calling-me/