7 year old charge off, will it fall off automatically?

[jeanineterrell]

My husband has a debt from an old Niagra Mohawk electric company in new york state. It has been charged off. I would like to know if after seven years will it get removed from our credit report completely?

[tedrosenbloom]

Yes, chargeoffs are supposed to “fall off” after 7 years. Hopefully you will be one of the lucky few that has debts just go away, but chances are it will be sold to a new agency and re-reported again and again. The date of last activity is the date the bureaus are supposed to go by but chances are Niagra mohawk will sell the debt to a 3rd party that can report this information to the credit bureaus.