The U.S is aproximently $13,048,885,524,238.38.in debt and it would take Samantha 400 years to pay it back to Benito
Read more: How much money does the US owe
How long does it take for credit score to go up in rating after paying off debt?
How long before they take debt off of your report is 7 or 10 years.
That would depend on several variables: -- The interest rate on the debt. -- How often you make a payment. -- The amount of each payment.
It Depends On What Situation Your In Like For Example Debt If Your In That It Would Be A Negative On Your Credit and You'll Have To Get Yourself Out Of That!
How long it takes to pay off your debt consolidation will depend on a number of factors. The first thing you need to look at is how much money you owe. If you owe tens of thousands of dollars, it will take you longer to pay off your debt than someone who just owes a few thousands. The higher the debt, the longer the payoff period. You also need to take a look at how much of a monthly payment you can afford. The more money you put towards your debt each month, the more quickly you will be able to pay off your debt consolidation. When you take out a debt consolidation loan or sign up with a credit counseling service, they should be able to give you a good idea of how long it will take you to pay off your debts.
Not long if you work on paying it off as quickly as possible. It depends on the size of the debt, and the type of intrest rates you have. For a house, expect 30 years.
until the company writes the debt off or the person owiing the debt dies
There are many debt consolidators out there, but beware of most of them. If you are having to owe money to them in the long run, it is not helping you get out of debt. Your best bet would be to schedule a meeting with your bank and see what they have to offer. They would be more reliable than debt consolidators.
A bad debt can be collected on indefinitely. The debt is owed until it is paid or written off by the creditor or individual.
Getting out of debt may be a long and slow process, but it is possible. The biggest step is to stop acquiring new debt. Stop using credit cards immediately and work towards paying off your old balances.
Yes, they can still sue you even if they have written off the debt as long as they file a lawsuit before the statute of limitations expires. Writing off the debt allows them to take a loss for tax purposes. If they do sue and collect from you, they have to report it as new income.
Until the debt is paid off