HELOC Charge Off questions

[RBisDebtFree]

Hello, my parents and I had a joint home equity line of credit for $190k. The house was only in their name, myself being a co-signer. The HELOC was 3rd lien on the house, 2nd lien holder started foreclosing on the house. When I filed CH7 the foreclosure stopped and now a few days ago I saw it on the statement that the HELOC bank charged off and paid off the account, so the account balance is zero.

Does anyone know what it means? Will they now most likely write off the debt or is it just the beginning to start the sueing?

Thanks!

[UpsideDownMI]

It most likely means that the account has been sold to a debt collector.

[RBisDebtFree]

Oh, I see, so probably not much good news...

[aljohnson007]

Get a free annual credit report from any of the three and see if it is included in bk (IIB). As long as the debt is included and discharged in your bk, they cannot sue you (successfully). I had a HELOC and a CC that was initially charged off but changed once I file C7.

[hereforinfo]

They can't go after you for the debt, but they can sue your parents.

[RBisDebtFree]

My parents have their CH7 papers ready with their attorney, so I guess we're just going to wait and see what happens...