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How long after bad debt can it be collected?
A bad debt can be collected on indefinitely. The debt is owed until it is paid or written off by the creditor or individual.
Can a debt be collected after 17 years?
In the United States, the statute of limitations on collecting a debt varies by state but typically ranges from 3 to 10 years. After this period, the creditor may no longer legally sue you for the debt, but they can still attempt to collect it through other means like contacting you for payment. It's important to check your state's specific laws on debt collection for accurate information.
How many years is it when a debt is null and void and cannot be collected?
The law varies from state to state in the US. It could be as little as two years or as long as 8. And the time from which it is measured varies, usually from the last acknowledgment that it is a valid debt.
What is the statute of limitation for a debt to be collected in Pennsylvia?
Most debts would be a written agreement. In Pennsylvania they have set the limitation at 4 years.
Can a debt be collected after 6 years in the UK?
I have just received a letter from a company chasing a debt of £1056 from a product I sold in a business in 2003. the new owners of the company it seems did not carry on the payments. this is the first time I have heard of this. can you help as I have heard that they can not chase a debt of over 6 years.
How much money can you make as a debt collector what percentage of debt collected should I be receiving?
The average salary of a debt collector is 28,000 dollars. The percentage given as a commission varies from 3 to 5% of the debt being collected. In some companies, it is even a larger percentage.
Can a third party purchase a credit debt in Texas that is charged off and aged over 10 years?
Texas SOL under TCPRC (section 16.004(a)(3)) is 4 years. The debt could not be collected. The exception being a renewable judgment that was granted.
How long from service of judgment before a debt can be collected?
In most states it is 10 years and can be renewed for another 10.You need to check the SOL in your state.
How long could a debt be collected after the event by a debt agency?
The Statute of Limitations (SOL) determines that. Each state in the USA has a set number of years that debt collectors can come after you for that. After that set time, the debt is considered legally noncollectable. A simple online search can let you know what your time frame is.
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.
Can a 17 year old have credit debt?
No, Usually credit is extended to an individual 18 years or older.
What are the limitation to medical bills collected by a hospital after several years in the state of Kentucky?
Debt collection in Kentucky is long. The creditor has up to 15 years to collect on a written agreement. They have 5 years for an Oral agreement or Credit Card.
