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Should you pay off old credit card debt that is past the statute of limitations and is no longer on your credit report?
Wiki User
∙ 12y ago
I have been paying down this credit card for ten years. The dates in which it went dilinquent are long past the statue of limitations. This whole account doesnt show up on ANY of the three credit agencies on my report. They are not reporting my monthly payments so paying them isn't helping. I only owe $1400..at one time i owed them 15k
Wiki User
∙ 12y ago
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What is the statute of limitations for credit card debt in Massachusetts?
The statute of limitations on credit card debt for Massachusetts is 6 years according the website I found. (http://www.creditinfocenter.com/rebuild/statuteLimitations.shtm) NOTE that this is different from what will be reported on your credit report. In any case, if you do not pay what you owe, your score and ability to borrow will be low for a longer period of time.
Can you still be contacted on a debt that was written off in 1993?
There is no statute of limitations on collecting a bad debt. If you owed the debt in 1993 and never paid it, you still owe the debt. A judgment has a statute of limitations that is set by both the federal Fair Credit Reporting Act and laws of the state in which you live, or the credit (or collection agency) does business "...whichever is longer". There are circumstances under which an 11 year old debt could be both reported on your credit, collected and filed suit on. If you suspect the statute of limitations has expired; it gives you a cause for disputing the credit report entry and a defense to the judgment.
How long does a judgment stay on your credit report?
Judgments on Credit RecordsThe Fair Credit Reporting Act [15 USC Section 1681c](a)Information excluded from consumer reports...(2)...civil judgments...that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period.So, 7 years from the date of entry, or longer, if your state has legislation which allows it report longer.Here is input from others:A judgment remains on a consumer's credit report for 7 years from the "date of entry, or until the governing statute of limitations has expired, whichever is longer". This time period applies to each legal action. Under certain circumstances and certain state's laws, judgments can be renewed. The renewal of a judgment would allow it to show on a credit report for 7 years from the date of renewal, if allowed by state law.Generally seven, although most judgments are renewable in which case it could be on a cr a very long time. If paid it would be listed as "satisfied" and be expunged after the 7 years expired.
How long will it affect your credit if you stop making payments on your ex wife's mortgage and the house is in foreclosure?
A foreclosure will show on your credit for seven years from the date of last activity. The federal statue of limitations is also seven years for the legal notice of foreclosure in the public records portion of your credit report. There may be other state laws which extend this statue of limitations. The Fair Credit Reporting Act is worded "...whichever is longer..."
If you owed money on a student credit card but have now settled it will that affect your credit in the future?
You did not provide enough information for a specific answer to your question. In general: Settled debts show as (now) paid derogatory items. No creditor wants to take a loss after wanting longer than the original term of your loan to get their money back. So a derogatory loan that is settled for less than full balance is shown with that type of notation, and continues on your credit report until its' governing statute of limitations expires.
What is the statute of limitations on credit card debt in South Dakota?
Nebraska has set the statute of limitations for an open ended account at 4 years. A credit card is an open ended account. That will be measured from the last communications from the debtor. The credit card may be based on a different jurisdiction which could be longer! You need to check your agreement for the applicable jurisdiction.
Is there a statute of limitations on a robbery with indictment?
The indictment has already been issued. The statute of limitations no longer applies.
What is the statute of limitations on traffic violations in Oregon?
No, if you have been issued a ticket, the concept of a statute of limitations no longer applies.
What are the statute of limitations on credit card debt in South Carolina?
South Carolina has set the statute of limitations at 3 years. A credit card is an open ended account. That will be from the last communications from the debtor. Please note that the credit card may be based on a different jurisdiction which could be longer! Check your agreement for the applicable jurisdiction.
What is the statute of limitations on credit card debt in Oklahoma?
In Oklahoma the statute of limitations for an open ended account is set at 3 years. A credit card is an open ended account. That will be measured from the last communications from the debtor. The credit card may be based on a different jurisdiction which could be longer! You need to check your agreement for the applicable jurisdiction.
How long is the statute of limitations on a credit card in Nevada?
Nevada has set the statute of limitations for an open ended account at 4 years. A credit card is an open ended account. That will be measured from the last communications from the debtor. The credit card may be based on a different jurisdiction which could be longer! You need to check your agreement for the applicable jurisdiction.
What is the statute of limitations for credit card debt in Massachusetts?
The statute of limitations on credit card debt for Massachusetts is 6 years according the website I found. (http://www.creditinfocenter.com/rebuild/statuteLimitations.shtm) NOTE that this is different from what will be reported on your credit report. In any case, if you do not pay what you owe, your score and ability to borrow will be low for a longer period of time.
What is Ohio statute of limitations traffic violations?
Once a ticket has been issued, you have notice of the violation. In Ohio the statute of limitations no longer applies.
Is there a statute of limitations for tickets in Florida?
Once a ticket has been issued, you have notice of the violation. In Florida the statute of limitations no longer applies.
What is the statute of limitations on a credit card debt in NJ?
New Jersey has set the statute of limitations for an open ended account at 6 years. A credit card is an open ended account. That will be measured from the last communications from the debtor. The credit card may be based on a different jurisdiction which could be longer! You need to check your agreement for the applicable jurisdiction.
What is the statute of limitation on credit card debt in Kansas?
A credit card is an open ended account. Kansas has set the statute of limitations at 3 years. That will be from the last communications from the debtor. Please note that the credit card may be based on a different jurisdiction which could be longer! Check your agreement for the applicable jurisdiction.
What is the statute of limitations for a credit card judgment in the state of California?
I don't know that there really is a limit for an actual judgement. You've had the notice and there are no longer any surprises. Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in California is 4 years. That is from the last use or payment. My best advice is to consult an attorney in California.
