They can send the amount to a collection agency, and/or if it’s within the state’s SOL, they can sue you for what is owed (plus court/legal fees).
Whether or not they choose to do that depends.
Banks are unlikely to welcome another relationship with you if you have defaulted on a previous debt and if you have additional accounts with a bank when you default on one, they may close your other accounts as well.
Other banks may also close or limit your accounts due to your default with the first bank.
Some banks are more forgiving than others when it comes to establishing a new account.
Generally speaking-a charged off account means you didn’t pay your debt to that lender. Which will make other lenders quite wary of lending to you lest you fail to pay them as well.
Whether or not they choose to do that depends.
Banks are unlikely to welcome another relationship with you if you have defaulted on a previous debt and if you have additional accounts with a bank when you default on one, they may close your other accounts as well.
Other banks may also close or limit your accounts due to your default with the first bank.
Some banks are more forgiving than others when it comes to establishing a new account.
Generally speaking-a charged off account means you didn’t pay your debt to that lender. Which will make other lenders quite wary of lending to you lest you fail to pay them as well.
