Yes
The sooner you turn an unpaid debt over to collections, the better the chance of recovery. I would not suggest any debt over 3 years old. If it is a credit reporting agency, the debt will remain on the debtors credit report 7 years from the dilinqent date.
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.
More than likely. Three years is not long enough for an SOL to expire. What probably happened was, the account was bought from the creditor, which is common practice. The BK of the original creditor, has no relevancy if the debt was sold.
No, Usually credit is extended to an individual 18 years or older.
Yes. Even though the chargeoff line item should come off of the credit report in seven years, the credit card company may attempt to collect their debt for as long as they wish (assuming no fair credit collection laws are broken in the process).
The sooner you turn an unpaid debt over to collections, the better the chance of recovery. I would not suggest any debt over 3 years old. If it is a credit reporting agency, the debt will remain on the debtors credit report 7 years from the dilinqent date.
You may be liable for a debt over 6 years old, depending on where you live. The debt statute of limitations (SOL) varies by state. Remember that the SOL starts on the date of the last activity on the account. This means if you make a partial payment on it, the SOL clock starts over! Get the SOL info for your state below-
Thats a interesting question. 13 years old
Probably; it depends on the laws where you live.
In the United States, the statute of limitations on collecting a debt varies by state but typically ranges from 3 to 10 years. After this period, the creditor may no longer legally sue you for the debt, but they can still attempt to collect it through other means like contacting you for payment. It's important to check your state's specific laws on debt collection for accurate information.
No debt over seven years old, from the date of last payment, is collectable. In the event a judgment has been granted to the creditor, no debt over ten years old, from the date of last payment, is collectable. This is of course by involuntary means, and is regulated by Federal Law.
Wait the 7 years. This is why. When you pay on an old debt like that the file starts all over again and even though you paid it its still a bad debt it will not help your credit any.
YES you can stop because she hasn't been a kid for 5 years, you should have stoped 5 years ago.
Two years old. Thats how clever she was.
yes im 6,3 and 16 years and thats more than me.
3 years or when the debt already had it birthday
yes..... a doctor can collect a debt for more than 2 years