2006-11-10 15:48:01 · 6 answers · asked by Roderick C 1 in Business & Finance ➔ Credit
The statute of limitations for a charged off credit card depends on the state in which you originated the debt.
Please refer to the hyperlink attached below to find out the appropriate statute of limitations for your specific situation.
Good luck and 10 pts please.
2006-11-10 18:46:03 · answer #1 · answered by DaMan 5 · 0⤊ 0⤋
It depends on what state you live in. It can become more complicated if you've moved since you generated the debt.
Edit: Ignore WikiJo's answer, obvioiusly WikiJo is confusing the Statute of Limitations with how long negative information can remain on your credit report. The Statute of Limitations is derived from State law and varies.
2006-11-10 15:56:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on your state. However, it normally is 5 years. If you have a charge-off debt however it normally will be sold in the secondary market to a debt purchaser and they will try to get you to pay. Let me know the state and I can tell you the precise statute or you can go to www.findlaw.com to research it yourself.
Good Luck
2006-11-10 18:59:47 · answer #3 · answered by teenriodoll 3 · 0⤊ 0⤋
7 years.
2006-11-10 15:55:12 · answer #4 · answered by WikiJo 6 · 0⤊ 1⤋
it's state by state. most are around 5 yrs. it usually means how much time is allowed for the creditor to pursue litigation against you. after it it means you can;t be taken to court. it will still be on your record.
2006-11-10 19:42:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
most likely five to seven years it differs from state to state
2006-11-10 21:04:23 · answer #6 · answered by moonwalker 3 · 0⤊ 0⤋