statue of limitations on collection agency debt collections
Date: Sat, 02/14/2009 - 08:53
A debt charged off by one company is bought by a collection agency at the end of 3 years statue of limitations. How long can the collection agency pursue this debt and can both be on the credit report, looking like twice the debt owed?
DOn't make the mistake of thinking Charge Off means the debts ju
DOn't make the mistake of thinking Charge Off means the debts just goes away. It will continue to draw interest, late fees and other penalties. What state do you live in? SOL is an affirmative defense to a lawsuit, they can still try to collect. They can only report it on your credit reports for 7 years + 180 days from the Date of First Default (DOFD) but it remains collectible until the sun goes super-nova.
