7 YEARS
Legally, ONE day. As long as you are in DEFAULT of your contract, the lender CAN repo the collateral. Read the contract for more on DEFAULT.
Not as long as you can prove you paid it.
Depends on which USA state where you live - Check Debt with Statute of Limitations; and http://www.bcsalliance.com/y_debt_sol.html
7 years from the date of first delinquency
In Ohio, the statute of limitations for debt collection lawsuits is six years for most types of debts. After this time period has passed, the debt collector cannot legally sue you to collect the 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.
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.
There is no statute of limitations on debt. If you owe it, you always owe it, unless the debt is 'discharged' during a bankruptcy proceeding.
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.
There is no time limit placed on their collection efforts to collect a debt. However, there is a SOL for legal recourse and for how long it can report on your credit reports. Reporting time is 7 years and so far as the SOL for legal recourse you would have to check your state laws to see how long.
Seven Characters long.
An account is no longer reported after a period of 7 years of inactivity in the USA; 6 years in Canada.