The statute of limitations per the FDCPA (Fair Debt Collections Practices Act) is seven years from the date of last payment. In that time, if it becomes clear to the creditor that you will not have paid off the balance owed, they will very likely obtain a judgment against you that will extend this to ten years from the date of the judgment.
The person who carried the card is still responsible for the debt.
Is there a cost to find out the staue of limiations in years on credit card debt
3 years 3 years
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.
Your credit card debt will follow you but may not be recorded on United Sates credit reports. You will still owe the debt but there may be no record of it.
Many different types of debts qualify for consolidation, including credit card debt, store card debt, personal loan debt, utility bills, and so forth.
You have to, it is a debt...it is just a secured debt...by the lien on the property.
4 years
7 years
If it is debt, you must pay it, no matter how long you put it off.
7 years
seven years