As a responsible cardholder, you are generally liable for any credit card debt up to the statute of limitations as established within your state. This does not prevent a debt collector from continuing to pursue older debts, but it does generally prevent judgments on old debts as long as you advise the creditor or court that the statute of limitations has expired. Debt collectors may still pursue debt collection even beyond the statute of limitations.
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.
Depends on which USA state where you live - Check Debt with Statute of Limitations; and http://www.bcsalliance.com/y_debt_sol.html
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
I am so in debt and I am worried about paying my credit cards. Where can I get advice on credit card debt solutions?
In Texas, the statute of limitations on credit card debt is typically 4 years. This means that creditors have up to four years to file a lawsuit to collect the debt. After this time period has passed, the debt is considered "time-barred" and creditors can no longer sue for payment.
Is there a cost to find out the staue of limiations in years on credit card debt
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Florida is 4 years. That is measured from the last use or payment.
The limit does not exist!
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Illinois is 5 years. That is measured from the last use or payment.
4 years
7 years
The statute of limitations on credit card debt in South Dakota is six years. The company is allowed to aggressively pursue payment for that period of time.
The statute of limitation for unpaid credit cards in N.Y. is 7 years.
7 years
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Colorado is 3 years. That is measured from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Tennessee is 6 years. That would be from the last use or payment.