Charged Off, but not Sold Off

It is possible that your original creditor charges off the debt but does not sell it off to a third party collection agency. The finance company may have their own collections department who can contact you for the payments. You can request the debt collector to provide you with statements if you're paying off the debt. Once you pay it off in full, you may even ask for a letter mentioning the same. As far as your third query is concerned, it will depend upon the debt collector as to how he will report it in his own books.

Thanks Anna
I'm not quite sure I understand you response to my post. You said:
The finance company may have their own collections department who can contact you for the payments.
Yes, I'm aware of this. However, as I indicated in my post, I was referring to when a finance company "hires" a lawyer of debt collector.

You said:
You can request the debt collector to provide you with statements if you're paying off the debt.
I was asking what the debt collector is "required" to do, not what I can do.

You said:
As far as your third query is concerned, it will depend upon the debt collector as to how he will report it in his own books.
I was asking how it would be recorded on the finance company's books, not the debt collector's. If we're talking debits/credits, I'm guessing the finance company would initially credit cash (decrease) and debit notes receivables (increase). However, I'm not sure what happens after the charge off occurs.

• Can the finance company (through a debt collector) still go after you?
  

• How is the charged off amount recorded on the books of the finance company? And how does that recording change if I start making payments to the debt collector? You can talk in terms of debits/credits or "X account increases...Y account decreases."