need help with old accounts
Date: Sat, 03/21/2009 - 16:38
i cant stomach looking at my credit report. i had 7 c accounts in 2004 that i stopped paying on that year. i winder if they are still valid debs after all this time. i have not ben contacted, but that is because i am out of reach. i thik all these accts were taken by collection agencies and i thought there was a way to gt the credit reporting agencies to take the accounts off my cr
anyway.
i dont have the mental strength to pull my cr, and send out letters to the collection people, but if these debts are dead based on the SOL maybe somebody can help me with this?
There are two relevant factors 1. Whether the debt can stay o
There are two relevant factors
1. Whether the debt can stay on your account
2.Whether the SOL has passed
Depending on your state these dates can be different.
The answer to whether they can stay on your report is probably yes for a while . 7 years is the amount of time creditcard debt can remain so 2004 + 7 = 2011
In some states the SOL is 6 or 7 years in some it is much less.
What state are you in?
4 sety
Quote:i winder if they are still valid debs after all this time
Quote:
i winder if they are still valid debs after all this time |
If you haven't paid them, then they are valid
Quote:
if these debts are dead based on the SOL |
Expiration of SOL does not extinguish the unerlying obligation (unless you live in MS or WI)
Need help on old debts
While it's true that they can still litigate, if the accounts are time-barred, outside the statute of limitations, then a debt validation letter should be sent to the CA. When they can't validate and if your are summoned, then your defense if the SOL.
you won't know what you are dealing with until you order your cr
you won't know what you are dealing with until you order your credit reports. Just bite the bullet and see what is showing, you might be surprised, it may not be as bad as you are expecting, and a lot might be fixable. You can get all 3 of your reports from Transunion, Equifax and Experian for free once per year by going to the website annualcreditreport dot com
