[Starchild]

I live in VA. I have an old credit card account that was charged off approximately 2 years ago. The original collection agency attempted stopped contacting me once the account was charged off. Payments were made on the account while I was in Chapter 13, which I no longer have. However, the balance was not paid off in full. Approximately $700 remains. I understand that the old collection agency "sold" the account to another agency (if I'm explaining that correctly). Since the account has been charged off, am I still responsible for the balance? I was told not to make any arrangements with this new company since the account was charged off. Is that correct? Or am I setting myself up to be sued?

[LawResearcherMissy]

Since the account has been charged off, am I still responsible for the balance?

Yes.

The new collection agency is now the legal owner of the debt.

[Happy Trails]

When a company realizes that their chances are slim to none on collecting a debt that is owed, they do what is known as a charge-off.

This is an accounting term meaning the company wrote the debt off as a loss, it does not mean you do not still owe the money.