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It depends on if the debt has been charged-off. Typicall after a debt is charged-off the original creditor has a specific time period depending on the state in which the debtor reside to file suit to obtain a judgment in order to force the repayment of the debt. If the time period mentioned above elaspes without the creditor filing suit then typically the answer would be that the debt does not need to be repaid. However, if you made partial payments to the creditor after the charge-off date you have started the clock over on that time period and the creditor get another chance. The best thing to do is contact a bankruptcy attorney for all the detail concerning the specifics of you particular situation.

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โˆ™ 2007-06-09 14:42:19
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Q: If you have about 50000 of credit card debt that is 10 years old and you have not filed for bankruptcy does the debt still have to be repaid?
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Related questions

Can you remove a bankruptcy dismissal from your credit?

No. Backruptcy will always appear on your credit. After 7-10 years your credit will be as good as someone who has not filed bankruptcy.


Will your credit rating be affected by your partner filing bankruptcy?

If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.


In Maryland how long does a bankruptcy stay on your credit report?

Chapter 7 will stay on your credit report for 10 years from the date bankruptcy was filed. Chapter 13 typically stays on your credit report for 7 years from the date the bankruptcy was filed, however, can remain on your credit report for 10 years.


Can a judgment be put on your credit if the debt was part of the bankruptcy?

Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.


When must a bank charge off a credit card?

When you have filed Bankruptcy.


If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?

Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.


How do you remove bankruptcy from your credit rating?

The only way to remove a bankruptcy from your credit report is to dispute it to the credit bureaus. The credit bureaus have 30 days under the Fair Credit Reporting Act, to verify your bankruptcy withe the court that filed it or it must be removed from your credit report.


If you filed chapter 13 and had it dismissed and paid of the debt is there any way to get it off of your credit report?

No. Filing a bankruptcy creates a public record that does not go away because you did not complete the bankruptcy. - once you file and get a case number you have filed for bankruptcy. if you didn't follow through and it got dismissed is regardless. you still filed for bankruptcy and it will still be on your credit report.


When you file chapter 7 bankruptcy and the case was dimissed will this show up on my credit report?

Yes. It will show that you filed bankruptcy and that the bankruptcy was dismissed.


If you filed bankrupty in 2004 how long will it be on my credit?

Bankruptcy stays on your credit report for 10 years. If you filed in 2004 it will drop off the month of your filing in 2015.


If you filed bankruptcy July 2002 how long will it be on your credit report?

10 years


If you filed bankruptcy in 1997 in NC do you fall under the 10 or 7 year rule for removal on credit report?

I believe it doesn't matter what state you filed, bankruptcy is a federal matter. It will stay 10 years on credit reports!


When you marry someone who has filed bankruptcy do you also take on the bankruptcy?

No, however the person's bankruptcy would be a contributing factor if the couple applied for joint credit such as a morgage.


Can a person who filed bankruptcy 10 years ago co-sign for you?

That decision is up to the creditor who is considering grantin you credit. It really depends on what they have with their credit since filing for bankruptcy.


How long will a dismissed bankruptcy stay on your credit?

:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.


How do you remove a bankruptcy from your credit report that isn't yours because you have never filed for bankruptcy?

Contact the credit bureau that has the incorrect information about the bankruptcy. They will contact whomever they need to in order to verify the information or remove it if it is deemed false.


How many years will bankruptcy affect your credit?

According to law, bankruptcy can affect your credit for a long time after you originally file for it - up to ten years (seven, if Chapter 13 is filed).


How can you find out the date a bankruptcy should be removed from your credit report?

Look at the date your bankruptcy was filed. 10 years from that date it should be off.


Paula filed for Chapter 7 bankruptcy when she was 25 years old. How old will she be when the bankruptcy is removed from her credit report?

35 years old


If you have filed bankruptcy can a cosigner help you get a credit card?

yes and so will $400 as 'security" deposit.


Can you buy a car after chapter 13 dismissed?

Dismissed or completed? If it were dismissed, your credit report will show that you filed for bankruptcy. Obviously, if you filed bankruptcy your credit is not great. You certainly can buy a car for cash. Finding someone to lend you money; or getting a loan will be more difficult.


How do you remove bankruptcy on my file that i never filed?

If there is a bankruptcy filing showing on your credit report and you did not actual file, you should dispute that information with the three credit bureaus. They will then investigate and remove the information if it is inaccurate.


According to bankruptcy laws, how long must one wait after filing bankruptcy before they can buy on credit again?

Bankruptcy laws do not prohibit a person from opening another credit account. However, it may be difficult to find a bank willing to extend credit to someone who has filed bankruptcy. In addition, consumers should be careful not to repeat past mistakes. Once bankruptcy has been filed, it is a good idea to operate on a cash basis to re-learn the essentials of personal finance.


How can you remove a bankruptcy from your credit report myself?

Generally speaking, in the US, bankruptcy stays on a persons credit records for up to seven to ten years. It may depend on what particular bankruptcy was filed for. It's a good idea to check with a credit bureau to get the complete picture. Also, another reason to check with credit bureaus is that they may have forgotten to erase a bankruptcy that they have overlooked.


How do you find out what year you filed for bankruptcy?

Go back to the court where you filed and ask for a copy of the case details. You may also find it on your credit history.