As long as they feel its worth it, i have come accross a collector from 6 years ago that i forgot about - they rarely forget. There are not time limits for when a creditor or collector can pursue debt collection procedures. In the U.S. all states have SOL's pertaining to how long a creditor has to file a lawsuit against the debtor to obtain a writ o judgment.
Attempt to collect: yes they can attempt to collect long after the 7yr tradeline expiration date. Report: no since the very first account default triggers the 7yr deletion timer not when the collection agency receives it from the original creditor.
The account is considered an uncollectible account. The account must be adjusted so that the business can balance its books.
Seven years begining six months after payment the account ended. Not when it was bought by a third party collector.
A debt collector can attempt to collect on a debt for as long as she wants. She cannot, however, bring legal action against you once the statute of limitations has expired. At this point, she may still attempt to contact you by phone and written correspondence, but that is legally the extent of the actions.
Until your state's statute of limitations runs out on that debt.
I believe in Ohio a medical creditor can attempt to collect a bill for 7 years. However, they can hold onto the account as long as they decide.
Attempt to collect: yes they can attempt to collect long after the 7yr tradeline expiration date. Report: no since the very first account default triggers the 7yr deletion timer not when the collection agency receives it from the original creditor.
it was that if the creditor had not tried to collect within 7 years it was expired
The time frame for a creditor to sue you after a repossession varies by state, but typically it ranges from 2 to 6 years. It's important to check the specific statute of limitations in your state to determine the exact time frame.
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.
As long as it is collateral for a loan in default.
In Texas, the statute of limitations for collecting a debt through legal action is typically 4 years. However, debt collectors can continue attempting to collect a debt beyond this period, but they cannot sue for the debt once the statute of limitations has expired.
Yes! Creditors can garnish a personal checking account. As long as the creditor has the checking account info they can garnish a checking account.
In many cases, as long as the individual that has passed was the only person on the debt, then they are the only person that was responsible. If a spouse or additional person was listed on a debt as a joint owner, than the creditor can attempt to collect on the debt from the living even though the other joint borrower has passed away.
The account is considered an uncollectible account. The account must be adjusted so that the business can balance its books.
Seven years begining six months after payment the account ended. Not when it was bought by a third party collector.
A debt collector can attempt to collect on a debt for as long as she wants. She cannot, however, bring legal action against you once the statute of limitations has expired. At this point, she may still attempt to contact you by phone and written correspondence, but that is legally the extent of the actions.