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Can a debt collector still try to collect on a 22 year old debt?
Wiki User
∙ 14y ago
Yes, a debt collector could try to collect it. However unless this is a judgment the statute of limitations have expired and they would not be able to sue you or take any legal actions.
They could not even threaten to take any such legal actions or reporting to credit and if they did they would be violating 15 USC 1692e § 807 which forbids a debt collector from use any false, deceptive, or misleading representation or means in connection with the collection of any debt.
If this is a judgment then that may change the answer, since some states have judgments that last more then 20 years, some even forever.
Wiki User
∙ 14y ago
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What happens if you have 30000 dollars in credit card debt and have not paid for over a year?
There is no certainty as to what action creditors will take to collect debt. Some will sue for as little as $100 if the debtor's state allows small claims action by creditors. The factors for whether or not a creditor will sue are many, the most important one being if they are assured they can collect any judgment that is rendered.
Can collection agency collect on a 20 year old credit card debt?
If they got a court order within 7 years of you getting the debt then they can but the amount of time and money they would have to put into it would make it impractical to do this unless you owe over $200,000. If they didn't get a court order within 7 years then the debt completely goes away.
Debt maturing in more than 1 year is often called?
Debt maturing in more than 1 year is often called FUNDED debt.
What is the average debt for a 22-29 year old?
Average debt is 16,120
What is better Debt settlement or bankruptcy 13?
Debt settlement by far. If you go through bankruptcy, you may still owe and have to pay the debts, AND you will have this ugly mark on your credit rating that will haunt you for the next seven year or longer. Best option is not to go into debt. Pay cash whenever possible.
Can the debt collector sue you for a 12 year old account?
Yes, they can sue you for a 100 year old account, BUT they cannot collect on it or obtain a judgment if the statute of limitations has expired. If seven years have passed since the last payment was made, the debt is no longer recoverable.
Can a hospital that is not in business still collect a bill from 1994 in Minnesota?
They can certainly attempt to collect. There is a 6 year limit on the legal requirement, but it runs from the last payment or acknowledgement of the debt, not the date of the bill.
How much does a collector make?
A bill collector can make 35,000 a year. They usually receive a percentage of each account that they collect on as well.
How long does a debetor have to collect before the debt becomes nul and void?
Creditors can try to collect forever. The SOL for filing suit is different for different kinds of debt in different states. Once this SOL is past, you can not successfully sue you for the debt. If you are sued after this SOL is up, you have to tell the judge that the debt is past the SOL. That along with a copy of a credit report showing the DOLA is more than the SOL. Most debt will then fall off your CR's after 7 years. The OC has 7 years from the charge off date to claim the loss on tax returns. Most credit card issuers will claim this the next year after to get the loss off their books. This is called 'writing off the debt'. At this point the debt is erased from the OC's general ledger. Once this happens, the debt no longer exists. A debt collector can still try to collect on it, but, you no longer have an obligation to pay. This is a good defense for Debt buyers.
What if a debt creditor tries to collect something from a 15 year old debt?
He can try, but to pursue collection after being notified by mail that the debt is no longer valid is a violation of the Federal Fair Debt Collections Practices Act.
If vehicle was repoed 10yrs ago can they come back and collect now?
I am not for sure, but I always thought that if you have not heard from, or had no contact or attempts whatsoever to collect this debt in a 10 year time span, then that debt would be considered obsolete. Maybe someone can clarify this?
What duties are related to debt collector jobs?
As a debt collector, duties will often include updating debtor records, searching for updated contact information for the debtor, contacting debtors by phone or mail and negotiating payment plans. The average salary for a person in this position is about $32000 per year.
Can a collection agency attempt to collect a debt that was settled by another collection agency as 'not valid' a year prior?
They can attempt to collect. If the debt can be proved to be invalid the information should be forwarded to the agency via certified mail. Whether or not the debt is invalid under the terms of the orignal agreement depends on the how it would be viewed in court (if it comes to that).
How much money does a debt collector make a year?
I make $18 a hour and average about $16 a hour in comission. So that makes a total of $34 a hour.
Can a debt buyer collect on a two-year-old car repossession that has been charged off?
Yes. The term "charge off" does not mean the debt is not valid and subject to collection procedures, including the possibility of a lawsuit.
How big is the national debt?
it had reached over a trillion last year and is still increasing
If your finance company refuses to take back the vehicle after bankruptcy can you just leave it at the dealership?
Its done every day of the year. No. Even if the dealership would let you,(never happen)it is still your responsibility. Apparently the lender feels they can collect the debt by other means. Secured lenders have the option of negotiation or collection of the debt in full. Bankruptcy does not relieve you of secured debt, unless it is agreed upon by the lender.
