If you are able to pay them then you should.
Yes, you are still obligated to pay off your debt even if a credit card company sells it to a third party.
Many consumers assume that the time to collect a debt corresponds with the time the debt remains on the credit report this is not true. Statute of Limitations laws for debts are enacted by states, some concerning open accounts (such as credit cards), can be as short as three years.
Most of the time cancellation of debt will remain on your credit report for seven years. If the cancellation of debt is associated with a bankruptcy, it may take 10 years.
Sorry but that is not true.. although the debt may disappear from her credit file after seven years(negative statements are usually removed by the 3 major agencies after seven years).. The original creditor or one of its agents(a collection agency or debt purchasing agent) has up to her states statute of limitations to bring action to collect the debt.. anywhere from 3- 15 years
No. The credit rating shows if you're a credit risk. Not paying a debt for seven years is a credit risk, there's no reason to expect you could just wait it out and have a clean sheet.
Yes, you are still obligated to pay off your debt even if a credit card company sells it to a third party.
You are no longer obligated to pay the debt - at this point the hospital has certainly written off the debt - If you had insurance and they failed to bill them - you are in this case not obligated as well - the provider has about 18 months to submit the bill to the correct insurance - if they fail to do so- You are not obligated to pay the bill
Many consumers assume that the time to collect a debt corresponds with the time the debt remains on the credit report this is not true. Statute of Limitations laws for debts are enacted by states, some concerning open accounts (such as credit cards), can be as short as three years.
A debt will stay on your credit report for seven years after the date that you were originally delinquent on the account. After seven years, this debt is taken off of the account.
The debt will simply be marked as such if it was in default it will remain on the CR for the required seven years. An account that has not been defaulted on will remain indefinitely and show a zero balance when it is paid off.
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
Debt that is charged off plus 180 days can be removed after seven years but a creditor may be able to collect on the debt up to 10 years [depending on state SOL]
Seven years
The seven year stipulation is usually calculated six months from the time of default on the debt.
Wait the 7 years. This is why. When you pay on an old debt like that the file starts all over again and even though you paid it its still a bad debt it will not help your credit any.
That it left Britain with an enormous debt.
Most of the time cancellation of debt will remain on your credit report for seven years. If the cancellation of debt is associated with a bankruptcy, it may take 10 years.