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3/5/2020

I am being sued on a debt that the bank had previously charged off. Can they do that?

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It is a common misconception that once a debt has been charged off by a creditor that the creditor can no longer collect on the debt and the debt just kind of goes away.  Unfortunately, that is not the case.

A charge off is actually merely an accounting procedure by the creditor, whether it is a bank, credit card lender, mortgage company, auto loan company, or any other type of creditor.  The creditor has at that point decided the account is no longer an asset to the company.

Although the debt being charged off by the creditor is not a defense to having to pay the debt, there may be another defense.  Whether the creditor or a collection company for the creditor can collect on the account depends on the statute of limitations.  In Alabama the statute of limitations for most debts is either 3 years or 6 years, depending on the type of debt, from the last payment made on the debt.  Be careful here, a payment of any type toward the debt could make a debt which has passed the statute of limitations or is about to pass the statute of limitations collectible again for another 3 or 6 years.  Many times you may not hear anything about the debt for years, but out of the blue you are sued or begin receiving collection phone calls or letters regarding the debt.  This often happens when a debt has been sold or transferred to different collection companies or debt buyers.

If you have been sued on a charged off debt or are being harassed by a creditor or a collection company, a bankruptcy may be your best way to stop it.  There may also be other ways to defend against the debt or settle the debt.  Please educate yourself and do not let yourself be bullied by these companies.  Order my book by clicking here and/or contact an experienced bankruptcy lawyer immediately.

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    I am an attorney located in Cullman, AL. I practice extensively in the area of consumer bankruptcy law, that is, I file Chapter 7 and Chapter 13 bankruptcies for individuals.  I handle cases all over North Alabama and have helped hundreds of clients through the bankruptcy process., I receive many referrals from former clients and their families and other attorneys. Why? Unlike other firms, I have a local office. If you are from out of town, we have the technology available to keep your traveling to a minimum. Also, unlike many firms, you will meet personally with an attorney, not a paralegal. An attorney will handle your case from start to finish. ,

    You will be taken care of throughout the process. We will obtain your credit reports to ensure all your creditors are listed. We will assist you in preparing the forms and then obtain your credit counseling certificate which is required prior to filing bankruptcy for you. We will explain the pros and cons of filing for bankruptcy and the different types of bankruptcy. We will not pressure you into entering into a bankruptcy process that you do not understand. We will be with you side by side through the bankruptcy process. , We represent individuals and work hard to lead them out of the debt traps, through the maze of bankruptcy laws, and to the relief of a bankruptcy discharge.

    ​I am a member of the National Association of Consumer Bankruptcy Attorneys, the American Bar Association, the American Association for Justice, the Alabama Bar Association, and the Alabama Association for Justice. I am a 1996 graduate of the University of Alabama School of Law. I also have a BA degree from the University of Alabama. The Law Office of Richard L. Collins is a federally designated Debt Relief Agency. Richard L. Collins helps clients file for bankruptcy protection under the laws of the United States. Alabama State Bar Disclaimer: No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.

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Collins Law Offices, PC  helps clients file for bankruptcy protection under the laws of the United States.
​Alabama State Bar Disclaimer: No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.
  • Cullman Bankruptcy Attorney
  • Bankruptcy Info
    • Chapter 7
    • Chapter 13
    • Stop Foreclosure
    • FAQ'S re: Bankruptcy
    • Bankruptcy Attorney Services
    • Alabama Bankruptcy Blog
    • Credit Rebuild Education
  • Contact
    • Get Started
    • Free Bankruptcy Book
    • Free Rebuild Life Book
    • Contact Us
    • Make a Payment
    • Location
  • About Bankruptcy Lawyer