Charged-off account - Does this mean that the account is closed?

Your account is already been charged off by Discover , so you were about six months late on your payments, and your account is still very much alive.
The best way to deal with this situation is to settle the account with Discover as soon as possible. Remember that they have already written off your account as a loss, so they might be willing to negotiate with you and accept a settlement offer.

Go for it before your account is handed over to a collection agency.

No, your account is not closed. You are still liable for the debt that you owe.

It means, your account has sent to a collection agency by the original leader (Discover).

My suggestion is to work out a payment plan to pay the debt. Now, you need to pay the collection agency.

It will remain on your credit report for 7 years and will affect your score negatively.

You can expect only trouble at this point of time.

Your credit score will drop
Discover can sell off the account to a collection agency, which means more trouble.
You can be sued

Hi Charge off is when a creditor notifies credit bureaus that it has charged off a debt, it means the creditor has given up on trying to collect an unpaid debt. A charge off is a negative mark on your credit report. The account can still be sold to a third party (Collection Agency) If you can pay it you should but first you should get information on how to settle with them. Most of the time you do not even need to pay the full amount just pennies on the dollar. This is negative on your credit report and can remain there for up to 7 years. Hope this helps. You have any other questions let me know.