Thank you for your question.
Ultimately, claiming bankruptcy will not help your credit report. Waiting a few years for the charged off debt to lose relevance on your credit report may be a better move than declaring bankruptcy which has the ability to negatively affect your credit for 7-10 years.
You may want to take a copy of your credit report to a bankruptcy attorney for further discussion on whether this is the best route to go. However, if your debt is charged of and they are not trying to collect or sue you for it, it may be old enough to where they really cannot take any further action on the debt. In which case, filing bankruptcy may not be your best move.
Please let me know if you have any other questions, or require clarification. Otherwise, please hit "ACCEPT", so I may receive credit for my efforts.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).