If a debt had been erased off of your credit report after 7 years and another company calls do you have to pay

Question

Not sure if you have to pay but need confirmation. In addition I have not received anything in the mail but have not returned their call. I do not owe any debt at this time.

Answer 1

Don'cha love answers like Steven's.....just pay da bill...you owe it always!

sheesh.

Amanda H is absolutely correct. Read the link I've supplied below, as it does a great job of explaining the reporting date and what the Statute of Limitation laws are about.

Remember that even though the SOL has expired, the collector can still TRY and collect the debt. But you no longer have a legal obligation to pay it. That is why these debts continue to be sold from agency to agency.....YOU DON'T KNOW THE LAW! They count on that fact, plus their usual harrassment, to con you into paying the debt.

And to all those "pay da bill" idiots...lemme point out something to you. When you don't pay a debt, the creditor gives you two options. Pay up or they will destroy your credit for 7 years.

You have had to deal with the bad credit now....so in my opinion you have paid this debt. Ignore the collection agent. If they continue to bother you, send them a cease and desist letter.

Answer 2

A past due debt can only be reported for 7 years after the date of the last activity. Pull your credit report and make sure that it has been removed. If not dispute the debt and tell them that the 7 years has passed. They should remove the debt with no problems. You have no obligation to pay the debt, so tell the new collection company to screw off. They can no longer collect on the account. Inform them that if they report this to the credit bureaus, you will sue for violation of the Fair Credit Reporting Act.

Answer 3

1) Collections can only be on your credit report for 7 years FROM THE ORIGINAL DELINQUENCEY. This starts with the first late payment that eventually led to the discharge/charge off to the collection. So say in January of '99 you made a 30 day late, that turned into a 60, 90, 180 day and then it was written off. The 7 years starts from the ORIGINAL 30 day late-- so it could not be on it as of January of '06-- NO MATTER HOW MANY DIFF COMPANIES REPORT IT. However, the credit bureaus dont always know its from an older debt, so it doesn't automaticaly fall off with the original debt. Dispute it if it comes up on your credit seven years after.

2) IN your state you have a statute of limitations on debt collecting. Usually its 7 years. THey should nto be able to collect after the statute of limitations expires.

Answer 4

the respond on your question isn't as elementary or as complicated as some people make it out to be. The State the place you you reside, the guidelines and practices of unique lenders and your very own habit make this answer selection. for my area the 7 years is from the date of final interest on the account no longer unavoidably your final charge. it is in lots of circumstances plagued by many stuff: Did the creditor sell the phenomenal stability to a 0.33 occasion. Is there a judgment? additionally what are the quite practices of the credit bureaus? i'm no longer an lawyer yet i've got self belief that bankruptcies can quite stay on your credit checklist longer than 7 years from the report date. In any journey you like a qualified individual to respond to your question. i'm hoping right here cyber web websites are effective.

Answer 5

You owe the debt until it is paid. They reporting limit on debt has no effect on this. The statute of limitations prevents the creditor from taking legal action (aka suing you) to collect. This does not mean you no longer owe them.

Answer 6

I recommend writing a letter asking for debt validation. You can find examples online if you do a search or it. By law, they're required to prove that you owe it. After seven years, I highly doubt they have maintained your records and you may be able to get off.

Answer 7

looks like they have sold your debt to another company. |Someone i know had this happen to them they ignored calls and just sent letters back. wrote on letters unopened not at this address. Nothing happened to them. Debt company do try their luck now and again they get commission on recovereed debts

Answer 8

its my understanding that after 7 years these things dont just come off your credit but that you have to get them removed..and if its an eviction that never comes off even if you pay...so im not quite sure what your askin anyway

Answer 9

100000000000000% sure...NO!!!!!!!!