How long before debts are written off by companies?

Answer 1

I think for some companies it is like 7 years and they give up. It depends. Some never give up. They turn you over to a collection agency and let them handle it.

I have friends that have debt...and eventually they just stopped calling and were never taken to court.

BUT of course their credit is always effected by it. It is never really and truly gone despite the fact that that "company" stops trying to collect.

Answer 2

Companies generally will charge off a debt within a year (consecutive non-payment). After that, they will either go to a special department within that company or sold to a debt broker. The debt broker buys debt for pennies on the dollar and then attempts to collect on it.
Each state varies, but the average statute of limitations is 7 years. It can take up to 10 years before it comes off your credit bureau reports.

Answer 3

Technically 7 years, if there is no communication between the company and yourself in that interim period.

Answer 4

if I were a company, I would not write off until it would cost me more to collect than to write off.