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Kindsmith

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Do you need to pay back a loan if it say charge off
Familial company

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Even if a loan is charged off you are still responsible for the debt. However, the debt can only be legally recovered in a certain amount of time. Look up the "statute of limitations to be sued for debt" in your state, as it varies from state to state. If the debt is within the statute of limitations and is far from expiring then you may want to pay it. If it is outside the SOL, then legally you don't have to.

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