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How long can a creditor come after you for an unpaid balance and what can they do?
Wiki User
∙ 8y ago
looks like 6 years. AFTER they get a judgement, they can garnishee your wages, ect. NO JAIL.
Wiki User
∙ 8y ago
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Can a debt collection company issue a summons for unpaid unsecured debt?
Yes, once a debt collection agency buys your debt from the original creditor they are legally entitled to all of your debt. Therefore, they can take you to court for any unpaid debts, so long as it is the debt they bought from the original creditor and only that debt.
How long do unpaid traffic tickets stay on a credit report?
Unpaid traffic tickets are not reported to the credit bureaus.
Is there a limit to how long a creditor can try to collect a debt in England?
it was that if the creditor had not tried to collect within 7 years it was expired
Is there a statute of limitations on how long creditors can collect on charged-off accounts?
Statute of limitations is a term that applies to how long a consumer can be sued to recover a defaulted debt. It has no bearing on collection activity. There is a separate time period for how long a charge off can show on your credit report. A creditor can attempt collection on an unpaid debt forever. It's just that after these two time frames have passed, their collection efforts have no "teeth".
How long after a repossession can a lender come after you for the money owed still?
When the vehicle is recovered, it is taken to a lot, inventoried, and eventually taken to auction. The amount received at auction is applied to the amount owed, including repo fees and collection fees. In the event the lender obtained a judgment against you for the unpaid balance, they have 10 years from the date the auction proceeds were applied to the loan. If there is no judgment, they have 7 years.
When does an unpaid medical bill start to have a negative effect on your credit rating?
Your unpaid medical bills will not be reported to credit bureaus until sent to a collection agency. As long as they remain with the provider, the unpaid balance is just that, an unpaid balance. However, some interest rates may apply, depending on the state that you are in, so that balance could change.
Can a debt collection company issue a summons for unpaid unsecured debt?
Yes, once a debt collection agency buys your debt from the original creditor they are legally entitled to all of your debt. Therefore, they can take you to court for any unpaid debts, so long as it is the debt they bought from the original creditor and only that debt.
How long is the statute of limitations for unpaid balance of a felony fine in fl?
There aren't any such SOL's on a court ordered fine and sentence.
How long does an unpaid credit card stay on my credit score?
It depends on the credit bureau. Experian, for example, removes information after seven years. Equifax removes unpaid items after 10 years. TransUnion is a little more forgiving and will remove an unpaid item after seven years, as long as it's been reported to them as unpaid by the creditor. So it really varies depending on which bureau you're talking about. But generally speaking, an unpaid credit card account will stay on your credit score for anywhere from 3-10 years, depending on the credit bureau and how long the account has been delinquent.
What is statute of limitations for car purchased 2003 and repossessed mid 2005 at borrower request?
If by "statute of limitations" you mean how long will you be responsible for any unpaid balance, that would be seven years from the date of last payment. If in the likely event that the lender obtained a judgment against you for the unpaid balance, that time limit will increase to ten years from the date of last payment. If the lender is not able to recover the unpaid balance in that time, he may petition the court for a ten year extension.
How long can a creditor attempt to collect on an account?
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.
How long does it take to reflect on your credit score when you pay balances off?
As soon as your creditor reports your balance is zero, the Credit reporting agencies update about every 30 days
How long does it take for unpaid cell phone bills to come off your credit report?
7 years or change your name and move to mexico
How long do unpaid traffic tickets stay on a credit report?
Unpaid traffic tickets are not reported to the credit bureaus.
What is rentention on an Account receivable aging?
An accounts receivable aging report summarizes your receivables on their age - how long they have been outstanding. So all the unpaid invoices posted in the past month are current, all the unpaid...The accounts receivable aging schedule is a listing of the customers making up your total accounts receivable balance.
If you file Chapter 7 and include your car how long do you have before they come and get it and how can you buy some more time?
Keep sending payments and the creditor should be happy.
How long before you don't have to pay off a car that was repossessed?
The lender will pursue collections for any unpaid balance for seven years from the date the car was sold after being repossessed. If the balance is large, they may pursue legal judgment. Obtaining this, they will have ten years from the date of judgment or last payment.
