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if you live in England debt must legally be written off after 4 years if the people you owe money to cannot find you. exept mortgage arrears which is with you for life. i don't know the law on this in the states if that is were you are from.
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How long does charged off credit card debt stay on credit report?
An account is no longer reported after a period of 7 years of inactivity in the USA; 6 years in Canada.
What about vat on bad debt write offs?
You end up getting the vat back once you write off the debt through your normally quarterly reports. There are rules though about when you can write it off, it used to be that you had to wait 6 months or tell the customer that you had written it off, but I believe this has changed.
If a delinquent account was never reported and it suddenly appears on your credit report 5 or 6 years later are you still responsible for 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.
What is the statute of limitation for a medical bill debt in Indiana?
SOL in Indiana for an Open Account is 6 years and a Written Contract for payment of money before 9/1/82 is 10 years and after that it is 6 years. Medical bills are normally considered written contract, but it could be one or the other. If the contract is signed under seal, it may have a longer time. Note that other factors will determine when the SOL begins to be counted.
If a credit debt was over 6 yrs old charged off written off and account closed How could a new Company just come right in and Sue you?
They can't sue you.AnswerI am not exactly sure about this but I believe they can do that as long as it hasn't been seven years. What does matter alot is what state your in, I know in Texas they cant come after you like that. Now they will threaten alot also but I would be suprised if they actually did something.
What is the length of time a creditor can collect on a debt before it is wrote off?
6 years
What is the statute of limitations on a non-collateralized debt in kansas?
There are limits for debt based on a written agreement. In Kansas they have set the limitation at 6 years.
What is the Statute of Limitations on medical debt in Washington?
There are limits for medical debt would be a written agreement. In Washington they have set the limitation at 6 years.
Maryland statute of limitations for debt?
It varies depending on the type of debt. Written agreements, Oral agreements and open ended accounts (credit cards) are set at 3 years in Maryland. Promissory notes are set at 6 years.
What is the statute of limitations for debts is Arizona?
It varies depending on the type of debt. Written agreements, including Promissory notes are set at 6 years in Arizona. Oral agreements and open ended accounts (your credit cards) are set at 3 years.
How long does charged off credit card debt stay on credit report?
An account is no longer reported after a period of 7 years of inactivity in the USA; 6 years in Canada.
What is statute of limitations on debt in Trinidad and tobago?
4 years
What about vat on bad debt write offs?
You end up getting the vat back once you write off the debt through your normally quarterly reports. There are rules though about when you can write it off, it used to be that you had to wait 6 months or tell the customer that you had written it off, but I believe this has changed.
What is the statute of limitations on credit card debt in Maine after being charged off and sold to a third party?
Im not sure but I think it is 6 years????
What is the statue of limitations in Georgia for debt collection?
6 years.
What is the statute of limitation for debt in Kansas?
It varies depending on the type of debt. Written agreements in Kansas are valid for 6 years, while Promissory notes are only valid for 5 years. Oral agreements and open ended accounts (those credit cards!) are set at 3 years.
The national debt is 6 percent a year how long would it take for the debt to double?
12 years
