[This is a transcript is a result of automated audio transcription from the video posted below. For help with debt collection matters in from a California debt collection lawyer, contact  our office by following this link or call 888-632-6623. Grammatical errors may be present in the transcript below. This transcript is for informational purposes only and may not be relied on as legal advice.]

Hey everyone, good morning this is attorney Brian Russ, just coming to you today talk about a topic that I get a lot, I get people asking me this question all the time they say “Can I be sued for a charged off debt?”or they say “I’m getting collection notices on my credit report that this debt was charged off, what can I do, can they still collect it?” so this video is meant to address that topic and I want to say, you know I’m pretty casual in this video right now I’m not wearing a collared shirt or anything it’s a Saturday morning recording this video because I got like three calls yesterday about, I mean this exact same issue charged off debt and so I think it’s an important thing to discuss.

So before I get into the topic I have to give you a few disclaimers the State Bar my insurance agency wants me to tell you this first. This video is not legal advice it’s not made for any particular person or any particular situation, like I said I got some general inquiries about this yesterday, but this is not in response to those inquiries at all. This is for informational educational purposes only. Next, if you have a situation where debts been charged off or you need help with a credit matter or your debt collection matter retain an attorney to help you through situation you’re gonna find these firms are professionals who come after you and try to get this stuff done, you’re gonna find that, you know the opposing counsel, very common ones you see Hunt and Henriques, you see Patenaude & Felix, you see Mandarich Law Group, these guys are professionals. They’re really good I respect them, they have great processes in place but unfortunately their process is to get money from you. So you need to retain an attorney to help you with your situation. Next no attorney client relationship forms by you’re viewing this video again I’m just an attorney on YouTube putting out some videos, you’re just somebody I don’t even know who you are watching this video no attorney client relationship forms by you’re watching this video. Finally, to the extent this video can be considered an advertisement, it shouldn’t be considered an advertisement I’m an attorney. I sell my services and I probably want to work with you. If your case meet sister of parameters. You can see my website above BrianRussLaw.com or you can give us a call 888-632-6623 and we’ll see if we can help you out with your debt collection matter navigate the topic at hand.

Can I be sued for a charged off debt. Well first let’s define what is charged off debt, a charged off debt means the creditor is no longer pursuing the debt, it does not mean that the debt doesn’t exist. So right charged off just means that the creditor stopped pursuing it so if you’re a city card, and you stop paying on it, and city charge it off just me City’s not trying to go after you anymore. So your credit report is a charge off. I think we can sit there for seven years, but if you’re getting sued by Citibank, because you’re charged off debt, or if you’re getting sued because of a charge off debt, charge off does not mean the debt still there. Right. You spent the money. You still owe it, you know that that obligation did not leave and I want to make it very clear, you know, I think morally if you borrow money from somebody, you owe them that money you owe it back, you know it, I am not in the business of getting people out of debt because they feel like, you know, a big bank doesn’t need it anyways I strongly believe that you have a moral obligation to pay back and debt that you owe.

But let’s work through it you know I think there’s, there’s, there’s situations we can work through this. You know there’s times when people take out more than they can handle but the repayment terms are terrible. But yeah, that’s the baseline like I believe you have a moral obligation to pay the debt you owe. So getting to that so charged off debt. I mean, like I said the debt still exists. You still owe it just because somebody stopped trying to collect it does not mean that the debt does not exist, is charged off, it means that you know it’s it’s an accounting mechanism where they say we’re taking this off our books because it’s no longer good. I have clients who I’ve had to charge off debt. I’m still gonna try to collect it one day but I’m just not actively collecting anymore. So, the answer the question can I be sued or charged off debt. Yes, absolutely. Happens every day. You can be sued for a charge off that people think charge off they say hey I’m free. You know I don’t owe that 40 grand I borrowed this you do. And you can be sued for it, you can absolutely be sued for a charge off that usually what I see happens is, is depending on the statute of limitations. You know, you will get sued, maybe 2 or 3 or 4 years out from the day you lost make payment from the day you breach the contract. So that’s enough time for you to stop thinking about the debt I’ve had that come up so many times where a client of mine will say, Oh, I forgot I took out that loan because it was three or four years ago I stopped paying and they stopped bothering me for it and now they’re suing me and they’ll get served a suit, you know, four days before the statute limitation, right, right statute limitations is a time period in which somebody may bring a suit against somebody else statute of limitations exists to ensure the proper flow of judicial resources and ensure that people actually you know, exercise their rights in a timely fashion.

So, yes, you can absolutely be charged. I mean you can be sued for a charged off debt 100%. Now, like I said before, there’s the common mistake I see is that people believe that charge off equals forgiven your debt is not forgiven if it’s charged off your debt is forgiven if you’re told it’s forgiven your debt is forgiven if you’re told you no longer owe this you cannot presume a line on your credit report saying charge off means forgiven to the doesn’t. So yes, you know, like I said like, I mean I know I’ve come down hard saying that you know more obligation to pay back all that, I get it. And most people want to pay back for that they don’t want to be seen as somebody who takes and doesn’t, you know, give back so if you’re getting sued for a debt collection matter again city banks coming after you MasterCards coming after you one of these guys come after you. You know, you got one of these other attorneys coming after you, like I said Patenaude and Felix is a big one, Hunt and Henriques is a big one, Mandarich law is a big one, you got lots of little debt collectors, law firms too. You get sued, you don’t know what to do, give my office a call, we dealt with these guys were in California. So if you’re getting sued for debt collection in Los Angeles, if you’re getting sued for debt collection in San Francisco, if you’re getting sued for debt collection in Sacramento if you’re getting sued for debt collection in San Diego. Call my office, we’re debt collection lawyers we will help you or we will talk to you at least and we should be able to help you, because these things are really easy to deal with if you know the tricks of the trade, which we do. Alright Hey Have a good one.