Old Debt

Date: Fri, 03/30/2007 - 12:39

Submitted by anonymous
on Fri, 03/30/2007 - 12:39

Posts: 202330 Credits: [Donate]

Total Replies: 3

I live in california and have some old debt still on my record. There are still outstanding balances on them. What is the law on how long they have to collect and does that date start on the day I signed up for the account or the day it became dilequint?? Need some help thanks.

Any company will want to recover their money. There is no date o

Any company will want to recover their money. There is no date on which the collections will stop. But you have some legal avenues using which you can decide whether you need to pay or not. No one can sue you for a debt on which the SOL is expired.

Tell us more elaborate about your situation. What kind of debt is this? When did you last pay on it?

lrhall41

Submitted by Johnson4485 on Fri, 03/30/2007 - 13:11

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Old credit card debt and some debt left over from repo's. Most

Old credit card debt and some debt left over from repo's. Most of them are around 5-6.5 years old. I havn't paid on them since then.

lrhall41

Submitted by on Fri, 03/30/2007 - 15:17

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Check the SOL in your state. The statutes might have already exp

Check the SOL in your state. The statutes might have already expired. Besides, these items are getting close to be removed from your credit report as per the FCRA laws on reporting negative items.

Don't be afraid if the company takes you to the court. They will not get a judgment against you after the SOL has expired.

lrhall41

Submitted by BKP on Fri, 03/30/2007 - 15:50

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