*Loan,banking and credit>>>credit report

Charge Offs On Credit Reports?

Do I have to pay charge offs that are on my credit report?

The creditor can and often does attempt to collect the debt, unless the Statute Of Limitations has expired on the debt, long after it has been charged off with either an in-house collection program or more commonly with a third-party debt collection service. Source(s): http://www.consumerbadcreditguide.com/de...

You still owe them, and might hear from a collection agency or be sued for them.
No it means they wrote you off their books. They got tired of waiting for you to pay and they need your debt off their books.
You don't have to pay it, but now your credit is significantly damaged and that bad record will be on there for 7 years.
Each state has different laws about how long someone can go to court to collect a debt. For example in California, it is 4 years. After that the debt can not be collected through the court system.

Whoever owns the debt can try to collect it FOREVER if they want to.
If you are able, you should. It will look much better on your credit.
Yes you can still pay...But after 7 years it will fall off 10 years if you are looking into buying a house( thats how far lendres look into your credit history).I settled one like that with a agreement of a deletion on my credit report