If you haven't made a payment in so many years and get a credit report, do the charges drop after so many years? I went to this website and Ohio looks like the only one without an "amount of years" they can collect on a debt...does that meaan there isn't an SOL?
http://ihatedebt.com/DealingWithYourCreditors/DealingWithDebtCollectors/StatuteofLimitations.php
2006-06-07 12:17:56 · 3 answers · asked by levity 3 in Business & Finance ➔ Credit
YES THERE IS!! I'm so glad you asked! It's 6 years baby! I had to cut Sears off for trying to collect after 10 years! BIG NO NO! 6 years, that's it! Check out suzeorman.com. Other debtors can still try to collect after 7 years, but after 7 years it is to drop from your report. Watch out for judgements. They can stay on for 15 years and get RENEWED! Consumers have no justice I swear. Hope this helps!
To the third answer, NO THEY CANNOT CONTINUE TO COLLECT. It is a statute, so it's law. After 6 years, they would be going against Ohio State Statute, against the law. They cannot collect after 6 years, and it must be removed from your credit report after 7 years. Thrid answer needs to do some more research. www.suzeorman.com
2006-06-07 12:20:04 · answer #1 · answered by Shelly 1 · 0⤊ 0⤋
In Ohio it is 6 years starting from the date the debt was due.
They cannot sue you for payment after that date..BUT, they can
continue to try to settle the debt and can note on your credit
record that you defaulted AND it will stay there until it is settled.
2006-06-07 14:32:58 · answer #2 · answered by rpf5 7 · 0⤊ 0⤋
no
2006-06-07 12:23:26 · answer #3 · answered by cmhurley64 6 · 0⤊ 0⤋