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The statute of limitations per the FDCPA (Fair Debt Collections Practices Act) is seven years from the date of last payment. In that time, if it becomes clear to the creditor that you will not have paid off the balance owed, they will very likely obtain a judgment against you that will extend this to ten years from the date of the judgment.
What else can I help you with?
Who is responsible for debt if a bank cancels a credit card?
The person who carried the card is still responsible for the debt.
What is the statute of limitations on credit card debt in RI?
Is there a cost to find out the staue of limiations in years on credit card debt
What is the SC SOL on card debt?
3 years 3 years
What is total credit card debt?
Total credit card debt currently amounts to about 962 billion dollars. The average credit card debt per owning household is 14,750 dollars. Approximately 609.8 million credit cards are currently in USA, with credit card users having an average of 3.5 cards each. Young people have credit card balance well below the average. While 25 to 34 years old manage to cut their credit card debt, they still average over $5,000 in credit card debt.
If you are leaving dubai will your credit card debt follow you?
Your credit card debt will follow you but may not be recorded on United Sates credit reports. You will still owe the debt but there may be no record of it.
What Types of Debts Qualify for Consolidation?
Many different types of debts qualify for consolidation, including credit card debt, store card debt, personal loan debt, utility bills, and so forth.
If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?
You have to, it is a debt...it is just a secured debt...by the lien on the property.
What happens to credit card debt if a bank fails?
If a bank fails, credit card debt is typically still owed by the cardholder to the bank or to a new entity that acquires the debt. The debt does not disappear just because the bank fails.
What is the statute of limitations on a credit card debt in ny?
4 years
What is the statute of limitations in connecticut for credit card debt?
7 years
Are you obligated if a credit card company sells your debt?
Yes, you are still obligated to pay off your debt even if a credit card company sells it to a third party.
Do you have to pay credit card debt from 5 years ago?
If it is debt, you must pay it, no matter how long you put it off.
