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Unless there are some unusual circumstances, the answer would be a resounding YES. You might be confusing this issue with the amount of time some credit problems stay on your credit record. Here is more input and advice: * Why wouldn't you? It's your debt and it's your responsibility to pay it back. * Why would you? If it has been 7 years it will fall off your credit report, if you pay it now it will be on the credit report for another 7 years as a paid collection account. * Paying an old collection account will not extend the reporting period for another 7 years. This is a fallacy and is completely incorrect. The Fair Credit Reporting Act establishes time limits for how long derogatory information can be displayed on you credit. You can read the text for yourself by following links at * A charge off or other debt being expunged from a credit report does not make the debt invalid or uncollectible. States set SOL's pertaining to open accounts, verbal and written contracts and so forth. The expiration of the state SOL for credit card debt simply means that the creditor cannot file a lawsuit. Statutes of Limitations are subject to interpretation by the presiding judge and other circumstances, for example if the debtor paid even a token amount on a debt the SOL could be invalid. If sued it is the debtor/defendant's responsibility to envoke the SOL expiration as a defense, it is not automatically granted.

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โˆ™ 2006-06-14 12:03:19
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Q: Do you still have to pay a credit card debt after seven years?
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Related questions

How long credit card debt stay on credit report?

seven years

Can I get credit cards after bankruptcy?

It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.

What can you do if a bad credit card debt does not come off after seven years?

Call the bank and sort it out

Can a credit card company collect on a debt over seven years old?

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).

Can you get a Canadian credit card if you are not Canadian?

It depends if your Canadian or not, you can still get a credit card.

How old do you have to be to open up a credit card?

U Have To Be 16 Years Old In The UK For A Saving's Credit Card... U Have To Be 18 Years Old In The UK For A Loan Credit Card...

If you have a credit report what would be listed on it?

all your credit cards,home address and previous address,card you canceled and still have and how many years you had you credit cards and ect.

When does the seven years start if there is a credit card debt on your credit report and the card was opened in 1999 but the reported last activity was 2001?

2001. Always go by the later dates of payment, delinquency, etc.

When are you allowed to apply for a credit card?

You are alard a credit card when you are 11 years old you will be alard to keep it in your own hands. So 11 years old and your alard to keep a credit card

Can a chase debit card also be used as a credit card?

Yes, but the funds are still withdrawn from the account that the debit card it linked to ... in other words using the debit card as a credit card is still a point of sale transaction. You cannot be extended "credit" on a debit card.

What is total credit card debt?

Total credit card debt currently amounts to about 962 billion dollars. The average credit card debt per owning household is 14,750 dollars. Approximately 609.8 million credit cards are currently in USA, with credit card users having an average of 3.5 cards each. Young people have credit card balance well below the average. While 25 to 34 years old manage to cut their credit card debt, they still average over $5,000 in credit card debt.

Is aspen credit card still active?


Can you get a credit card if you are under 18 years of age?

You can get a credit card if you are under 18 years of age but you need a parent/guardian to sign for it.

How do I get an unsecured credit card?

Even if you have bad credit, you can still often find an easy credit card to qualify for. Depending on whether you have a poor credit history, or just no credit.

If a credit card is not activated does it still reflect on your credit report?

Yes. If they extend the line of credit to you, and you do not activate it, it will still show up on your credit report.

If you are credit card blacklist how many years?

5 years

What is the statute of limitations for credit card fraud in Florida?

The statue of limitations on credit card fraud in Florida is 4 years. The credit card company forfeits any legal action to collect debt after 4 years.

How long does a credit card company have to sue you for unpaid credit card debt?

as long as it remains a part of your credit report, 7 years.

A lien was filed due to credit card debt. I had no personal property at the time the lien was filed about 3 years ago. How does this affect my credit?

The lien is probably still in place, and the fact that it was filed is still on your credit file.

Once the seven years is up and the Bankruptcy is no longer on your credit report then you have the issue of a big gap in years on your credit report how do you handle this?

The "seven year" thing is somewhat obsolete for a few reasons. 1. Chapter 7 stays TEN years, not 7. Chapter 13 stays seven. 2. Many, many lenders will offer credit before that time frame is up. In under a year from discharge, some subprime credit card companies might offer you a small card. After about 3 - 4 years about 50% of "prime" lenders will do at least something for you if you have re-established some credit. Do this right and the "gap" will be nonexistent.

Can a 17 year old get a credit card in the UK?

you have to be 18 years old to get a credit card that's if you sign for he or her

If you cancel a credit card without activating it will it still appear on your credit report?

No, in order to actually use the credit card you need at activate it. But many years ago when they just sent you the cards, I was 18 years (this was 1986) I got a Lazurus credit card, I never used it, just hung on it "in case". Well I just bought a house (2004) and that account is still, though there are no charges the loan officer said I had to call to have it closed out because they considered it revolving

How do you get a credit card with no credit history?

There are available credit card companies that offer a chance for people to have credit cards even though they don't have a credit card history. Even people who have a bad credit card history can still be a candidate for the application. Though it will be harder for one to get his/her application granted.

Can I get a credit card without any credit history?

You can get a credit card starting out with a small limit. If that still doesn't work look at getting a pre paid credit card to build credit. Bill payments on utilities are a great way to build credit.

How old is a seven of hearts card?

seven years