Theoretically, they can pursue you until you die or file for bankruptcy, regardless of how long either of those particular processes take.
Your contract with the credit card company is similar to a vow of marriage, in that it has something along the lines of a "till death do us part" clause, but more so: "You owe us until you die!"
Once the debt. has been charged off and sold to a outside collection source you must talk to them.
I don't know what state you reside in, or how the debt is classified However, it seems possible that the SOL has expired. Write the company and ask for a confirmation of the debt. Don't do anything until you receive it, and check the SOL in state pertaining to the type of debt you have.
They are pushing your buttons. The original company has probably written the debt off and it is possibly off of your credit report. Do not pay them one red cent, or they will be able to resurrect the debt.
hello yes they can as i have just found out mine was seven years if the find you you cannot get away from it sorry
National debt collection company, Collection agency, Rapid recovery solutions, National asset management are the companies that help with data recovery.
Yes, you can be pursued for a debt from 1999. Once you owe a debt, it is always owed until it is written off by the company or paid by you.
Yes, there is no statute of limitations on debt.
The limitation is 3 years. The start of that time is the last acknowledgement of the debt, which could a payment.
The limit on a recorded debt in Washington is set at 6 years. The start of that time frame is the last acknowledgement of the debt, which is a payment or communications.
File the information with a collections agency, and they will pursue the debt. Most collection agencies will also place the debt on the individual's credit report.
There is not a time limit on the collection of a debt. There are statute of limitations set by the state in which the debtor resides or in some cases where the debt was incurred that limits the time for which a lawsuit can be filed by the creditor/collector. It would seem that after the stated 13 years a lawsuit would not be possible with the exception of the debtor having changed the state of residency after the debt was defaulted.
A debt collection company.
No, a debt collection company purchases a debt from a creditor. They can try to collect on that debt but may not charge interest on it as they have no contract with you outlining interest charges. If a company is attempting to do that, cite the Fair Debt Collection Practices Act, a federal law, and complain to the Federal trade Commission, which oversees debt collection practices.
E-collections is a great leading company in the debt collection software industry. Pamar systems also provides a great debt collection software program.
Once the debt. has been charged off and sold to a outside collection source you must talk to them.
The debt being dropped from the credit report has no bearing on the collector's rights to pursue recovery of monies owed. The creditor/collector can contact the debtor seeking payment for as long as they choose. Also, state SOL's for debt(s) apply only to lawsuits, not collection procedures.
I don't know what state you reside in, or how the debt is classified However, it seems possible that the SOL has expired. Write the company and ask for a confirmation of the debt. Don't do anything until you receive it, and check the SOL in state pertaining to the type of debt you have.