There are two different SOLs.
The SOL for reporting a debt on your CR which starts on the date of first delinquency, which is 7 years.
Then there is your state's SOL for collecting on the debt. So in MI a collector cannot pursue a debt after 6 years. If they do, then you have an affirmative defense.
A charge off just means that the company had to write off the debt as a loss.
If you still have a CO being reported from 1998, you should just dispute it as obsolete. If it still comes back verified, then what you could do is call the CRA and find out what the FCRA compliance date is. If that date is over 7 years old then they KNOW they have to remove it by law. If for some reason the date is wrong (or a later date) then you need to find out why. The bank may be furnishing incorrect information.
Hope that helps.
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