Many consumers get the impression that once a lender chances of an account it means that in no longer owe the money. Just because a lender has charged off or written off and account does not remove your liability for the debt. When a creditor charges off an account he is declaring it as a loss in their accounting books and writing it off on the income tax. However the creditor is still within his rights to try and recover the money from you and may even hire a third-party debt collection agency for this purpose.
When a charged off account results in a collection account being opened, then both the original account as well as the collection account stays on the credit file for a period of seven years from the date of the first delinquency. They are both removed from the credit report at the same time.