I had a credit card back in 1996-97. I was in hard times and couldn't pay it. It ended up as a charge off. What does that mean?
Now, 10 years later a new collector says they have bought the account and I now owe them. So where do I stand or where can I stand with this?

Fr_Chuck

Charge off is a tax situation, where they charge it off as income as a loss on thier taxes. That has nothing to do with thier ability to sue you or collect the debt.

Each state does have thier own statue of limitation, so depending on when you stoped paying, it is very likely they can not actually sue you in court for the amount. But they can bill you and try to collect the debt for the rest of your life.