When the statue of limitations takes care of the debt do they have to take it off my credit report also.
2006-08-16 13:05:41 · 5 answers · asked by unique 1 in Business & Finance ➔ Credit
Texas 4 years but i takes 7 years to fall off your record. but it is from the last activity on the account " when you 1st missed your payment" but if you made any payment since then it will restart the clock. just be care full as you play the SOL game. if its been 6 years forget about it. I still urge if its 4-5 years still and you have the $ pay it, helps your credit.
2006-08-16 13:18:07 · answer #1 · answered by sarah a 2 · 0⤊ 0⤋
You should really not worry about the statute of limitations and actually pay your obligations. Even if it takes paying $10 a month for the next 50 years.
Also, there is no actual Statue of limitations. No sculpture of limitations.
2006-08-16 13:11:33 · answer #2 · answered by miketorse 5 · 0⤊ 0⤋
All your debt related records are taken off your credit report after 7 years, I guess. A few articles that might help you are:
Debt Management and Building Wealth
http://www.askaquery.com/Answers/qn1581
How to lower your debts?
http://www.askaquery.com/Answers/qn1576.html
How to reduce debt : How to lower your expenses?
http://www.askaquery.com/Answers/qn1577.html
2006-08-16 22:50:38 · answer #3 · answered by zinga l 1 · 0⤊ 0⤋
Statute of limitations deal with legal issues not debt. There is no statute of limitations on debt. Pay your bills.
2006-08-16 13:14:07 · answer #4 · answered by Anonymous · 0⤊ 1⤋
yup.......... 7 yrs
2006-08-16 13:12:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋