The statute of limitations starts on the date of the last activity on the account. So, making any payments at all restarts the statute of limitations period. In Wisconsin, the statute of limitations is 6 years. After that, they cannot collect.
A bad debt can be collected on indefinitely. The debt is owed until it is paid or written off by the creditor or individual.
The Statute of Limitations (SOL) determines that. Each state in the USA has a set number of years that debt collectors can come after you for that. After that set time, the debt is considered legally noncollectable. A simple online search can let you know what your time frame is.
Not as long as you can prove you paid it.
Until you pay your debt
There is no law that restriction how long a creditor or business must hold a bad debt before forwarding it to a debt collections agency.
Depends on which USA state where you live - Check Debt with Statute of Limitations; and http://www.bcsalliance.com/y_debt_sol.html
30 days from the time the debtor requested written confirmation.
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.
Until the end of time. Each state has separate statute of limitations that govern how long you can be SUED by a debt collector/agency/attorney, however, that doesn't mean the debt isn't valid and still owed.
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.
A consumer's responsibility for a debt is a separate issue than credit reporting. If you owed a debt 5 or 6 years ago, and never paid it, you still owe it. There is a statute of limitations for how long a debt can be collected, another for how long a consumer can be sued over a debt and another for how long a debt can show on your credit report.
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.