Charged off debts are collectible as long as you're still within the statute of limitations. A lot of clients come to us with the belief that once it comes off their credit report, they can't be sued for it any longer but the two terms really have nothing to do with one another. As long as a debt is still within a statute of limitations, here in Florida that's four years for credit cards, five years for written agreements, then it still can be enforced by filing a lawsuit.