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ORAL=3, WRITTEN=5, PROMISSORY=6, OPEN=3 CREDITINFOCENTER.COM
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If an account was charged off can you still be hounded to pay by collection agencys?
Yes, Charged off accounts are sold many times for collection .It also depends on many things as to what can be done . One is the statute of limitation for the state its in.There is a wealth of inf. on the PC about debt collections and may laws that apply.
How long can charged off accounts stay on your credit report in North Carolina?
Revolving accounts or Charge offs will stay on your report for up to seven years. But if you are interested in knowing what the statue of limitation is for the state of NC, then it is three years.
Can the statute of limitation start when a new creditor gets your old debt?
The statute of Limitations is based on the date of last activity (last payment made by the consumer or the date of charge off).
How long after a charge off can a creditor sue?
Charging off the debt has not impact on the creditor's ability to sue. Charging off is simply a write-off for tax purposes. A creditor can sue any time prior to the expiration of the statute of limitation regarding of whether or not the debt has been charged off. The applicable time deadline will vary from state to state and depending on the type of debt.
Is there a statute of limitations on how long creditors can collect on charged-off accounts?
Statute of limitations is a term that applies to how long a consumer can be sued to recover a defaulted debt. It has no bearing on collection activity. There is a separate time period for how long a charge off can show on your credit report. A creditor can attempt collection on an unpaid debt forever. It's just that after these two time frames have passed, their collection efforts have no "teeth".
What does 'last activity' mean when referring to the statute of limitations on credit reports?
The DLA generally indicates the last time a payment was made or the account was defaulted. The SOL for accounts before 1/98 relates to the DLA itself, SOL for accounts after 1/98 begin when the account is "charged off" (usually 180 days after DLA) and/or sent for collection.
What is the statute of limitations of charge off accounts in Ohio?
4 years for store credit cards and 15 years for bank credit cards
What is the statute of limitations once the charged off debt is sold to a 3rd party?
The statute of limitations for how long a consumer may be sued over a bad debt is established by (their) state law and type of account. You can do an internet search: statute+limitations+(your state)for more information.
What is the medical malpractice statute of limitation for minors?
It depends on the state. It can vary widely, but many states have an age limit as the statute of limitations. The article below goes into more detail on medical malpractice statute of limitations.
Will they keep your tax check ever year?
"They" will keep your tax check until you pay off your debt or until the statute of limitation for collecting the debt expires, whichever comes first.
What is a pay off loan?
I'm not sure I know what a pay off loan is....... but I do know what it is to pay off a loan.Could mean pay your loan off.orPay the principle balance in full. They will usually deduct some of the finance charge if the loan is paid off early.Commonly found in:*charged off accounts*repossession accounts*complete loss accounts paid off by insurances
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????
