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Perhaps the orginal debt balance at time of their taking the CO was incorrectly reported, or perhaps the updated amount is inaccurate.
It is also possible, but probably unlikely,that the amount of the debt at time of charge-off has been partially cancelled by the creditor, thus resulting in a new debt balance without the consumer having paid anything.
You will need a reconciliation of the actual debt balance under the terms of your loan agreement in order to determine what the acutal debt balance is.
I would contact the creditor and ask for their explanation.......