A charge-off doesn't mean the debt goes away — you still owe it. It means the original creditor has written it off their books as uncollectable and typically sold it to a collections agency. Charge-offs severely damage your credit score and remain on your credit report for 7 years.
If you have a charge-off, contact the collections agency to negotiate a settlement or payment plan. Getting a charge-off "paid" status on your credit report is better than leaving it unpaid.