My boyfriend got a letter from credit card that he owed money from 8 or 9 years ago. I have the same credit card, and I am worried if we were to join finances like we talked about that the company will go after me for the money.
2006-06-30 16:15:03 · 14 answers · asked by jammyjfj 2 in Business & Finance ➔ Credit
They usually "try" to collect forever.
Is it with a collection agency or still with the original creditor? If it is still with the original creditor, it either hasn't been very long since he defaulted, or it is with Cap One (just a couple of guesses there)
You need to find the statute of limitations in your state.
You also need to find when the date of first delinquency was on that card.
If he has had that card for 8 or 9 years, but only defaulted on it 2 years ago, he is probably still within the statute of limitations.
If he defaulted on the card 8 or 9 years ago, he is probably out of the statute of limitations, but you need to look it up to be sure.
If he defaulted that long ago and it is still on his credit reports, I would suggest sending the collection agency a debt validation letter. Send it certified return receipt mail. After receiving the green card back, send a dispute to the credit bureaus claiming - obsolete, please delete. (since the reporting period on a credit card is 7 years from date of first delinquency)
Then, if you are "positive" he is out of the statute of limitations, after it has been 30+5 days since the collection agency had received the debt validation letter, whether they respond or not, send a SOL letter.
I would suggest going to the site I've linked, you can find the resources for your letters and looking up the statute of limitations in your state.
2006-06-30 17:27:05 · answer #1 · answered by echo 7 · 1⤊ 0⤋
Most states have a statue of limitations as to how long they have to collect on a bad debt, I would guess that what ever state you live in that they have no legal grounds to collect but they can always use scare tactics and sue you. Just be aware of your rights and send them a cease and desist order, this will stop them from any further harassment, as long as your card was in your name and applied for by you and even if it is under his name and application as long as you have made the payments and stayed current, you have nothing to worry about, I am not an attorney but I know there are a lot of bottom feeding attorneys that look to buy bad debits sue people get a judgment and collect what ever amount they can watch yourself and and rear!
2006-06-30 16:22:53 · answer #2 · answered by Darby H 1 · 0⤊ 0⤋
YOU are not liable for HIS debt UNLESS, you signed the credit card>>>>i hope you did not!!!! Do not join finances...With the divorce rate being at 51% in California i would not join finances!! word of caution!!!Also the company may try,,,,,like i said try, but you just tell them you are not responsible for his debt...and that's the truth.....The creditors will always TRY to get their money from some family member....But remember ONLY the PERSON RESPONSIBLE is responsible for his bill!!!Then hang up the phone!!!!
2006-06-30 18:11:00 · answer #3 · answered by sweet 4 · 0⤊ 0⤋
forever as long as they keep contacting you for the money. If they don't contact you for 7 yrs you might be ok. I have friends who have had there cars towed for owing on things. Have your man sign up for some credit counseling. In this 8 or 9 yr period he couldve been paid off by know. Try Seildman Law
2006-06-30 16:47:42 · answer #4 · answered by fallguy2004 3 · 0⤊ 0⤋
Its surprising that he was able to avoid them for this long without them at least putting a garnish or lien on him.
They will not bother you but your boyfriend needs to deal with it.
P.S. one of the other comments said that it was past the statue of limitation, thats not exactly true. The statue doesn't start counting until the debt was due and the length varies between
5-11 years depending on what type of debt it was & what state you are in, some debt, like student loans never expire.
2006-06-30 16:54:19 · answer #5 · answered by rpf5 7 · 0⤊ 0⤋
how long can creditors go after you in mich
2017-03-20 10:03:56 · answer #6 · answered by elaine 1 · 0⤊ 0⤋
depends on the debt, it can be up to 20 years. if your name is not on that past due account they cannot come after you. Keep finances separate until all credit concerns are cleared up.
2006-06-30 16:31:08 · answer #7 · answered by worldstiti 7 · 0⤊ 0⤋
do not send a letter of validation.. if they actually dig up the info they will have what they need to pursue you.. also yes there is a stat of lim.. 7 yrs.. unless you wrote any acknowledgement of the debt.. then it starts over... ohone calls "verbal" do not start it over even thuogh a few states are shaky on that.. i 100usd lawyer could get the verbal shot down.. i.e. "prove it was my clients voice"
2014-12-18 11:02:39 · answer #8 · answered by Christopher 1 · 0⤊ 0⤋
They can go after you forever. However, YOU are not liable for his debt, even if you marry. Unless you signed the application, you are not liable. Period.
2006-06-30 16:18:42 · answer #9 · answered by normobrian 6 · 0⤊ 0⤋
Until they are paid back plus interest. Why would they let it go. If they did it for you, then what's to keep everyone else from not paying.
2006-06-30 16:23:25 · answer #10 · answered by smuir_21 1 · 0⤊ 0⤋