Legal Question in Credit and Debt Law in South Dakota

Re: debt collectors

Charge off is just an accounting term. It means that the claim is no longer viewed as an asset, but as a loss.

If the claim was valid, they can sell it to a debt buyer and that debt buyer bring a collection lawsuit.

There are reason why that might not happen such as the statute of limitations, and others. But the "charge off" itself changes nothing.

Re: debt collectors

Yes, unless it is beyond the relevant Statute of Limitations. There are certain requirements that must be met before debt can be collected by a Third Party to which the debt is assigned.