I have amex that was charged off about 4 years ago. The amex has a balance of $7000. My question is this. In 3 years its going come off my credit report. Am I still liable for this credit card even after it comes off my credit report?
The FCRA required 7 year credit reporting period limit is independent of the state SOL. If it is past your state's SOL for this kind of debt, if they sued, you could use SOL as an affirmative defense. In most states, they could still ask for payment, just not sue for it.
