2006-09-26 02:48:54 · 5 answers · asked by keepsondancing 5 in Business & Finance ➔ Credit
More terrible answers! Once again I get to waste my time correcting them. Why don't you people research your responses! You make yourself look silly!
The SOL will not restart just by acknowledging the debt! Most states have laws that detail exactly what will do it. Making a payment toward it could restart it.
NoSunHere, your answer is pathetic! I don't suppose you could point us to a source to verify this nonsense? Don't think so.
The SOL begins on the date of the last transaction or charge to the account. It's posting to a credit report has nothing at all to do with it.
And not one person here even tries to answer what the original question was!!!!
6 years for written and open contracts. See the link below for more info.
2006-09-26 07:51:24 · answer #1 · answered by Anonymous · 1⤊ 4⤋
I don't know the number off the top of my head, but if you acknowledge the debt to the person you owe that debt to, then the statute of limitations no longer matters. You would revive the debt, and they could collect.
2006-09-26 09:57:37 · answer #2 · answered by question_ahoy 5 · 1⤊ 0⤋
There's a catch to the whole seven year thing though. It is seven years after it arrives on your credit report, however, if the debt collector never actualy turns it in to the credit bureau they can chase you around forever. Also, let's say ten years later they do get tired of chasing you around and put it on your credit then. The seven years doesn't start ticking until 10 years from now.
Hmmm....doesn't that give it a whole new perspective.
2006-09-26 09:58:02 · answer #3 · answered by Zelda 6 · 1⤊ 0⤋
most states it's 7 years.
2006-09-26 09:53:49 · answer #4 · answered by Anonymous · 1⤊ 0⤋
STUDLY- we must be reading the same things on credit boards
2006-09-26 15:08:58 · answer #5 · answered by bella_4624_19 4 · 0⤊ 2⤋