Do I still have to pay?

Question

10 years ago I got a $200.00 Target charge card, I payed some of it but as time went by I forgot about it and I thought they did to cause they never called or sent me anything until about a month ago, I got a letter from them and received a couple of calls, my dad told me not to answer them anymore because after 10 years they should'nt be harrassing me about it any more, is he right, what is the Statute of Limitations on something like that? Also what is the Statute of Limitations on a bad check? I live in Minnesota

Answer 1

If you lent someone a two hundred dollars, and ten years later you bumped into them ... would you ask for your money back? I thought so.

Of course you still owe these people their money ... why wouldn't you? They were kind enough to give you a charge card ... YOU should be kind enough to pay them what is rightfully theirs.

Your dad needs to take some parenting classes ... good lord!!

Answer 2

The MN Statute of Limitations is 6 years. There is nothing they can do. If they continue harassing you, and end up suing, MAKE SURE you show up in court, and simply tell the judge that the SOL has long expired. If you have any documents proving the age of the debt, bring them along. Lastly, and this is the most important thing. DO NOT pay them anything, or even agree to pay them anything. The moment you do, the Statute of Limitations restarts, and they have you right where they want you. My father is a debt lawyer so I know what I'm talking about.
Good luck

Answer 3

I don't know the stats in Minnesota. In Florida the stats are five years to sue for a debt from DATE OF LAST PAYMENT and seven years to attempt collection from DATE OF LAST PAYMENT. If a Judgment for a bad debt is obtained in Florida it is good for seven years and renewable for up to twenty years. With that said, I would imagine that the credit company is contacting you because the stats are about to run out.

I am for doing what is morally correct. If you truly have received goods in exchange for credit, you should pay the bill. I am sure by the now the interest is crazy, so you can "settle" the bill by offering a lump settlement amount. DO NOT PAY THIS LUMP SETTLEMENT AMOUNT UNLESS YOU GET A LETTER STATING TARGET WILL ACCEPT THE SAID AMOUNT AS "SETTLEMENT IN FULL".

Further, this bad debt will remain on your credit for the number of years from the date of last payment until the stats have expired in your state under the Federal Fair Debt Reporting Act or the State Fair Debt Reporting Act, which ever has longer reporting time.

Even though you opened the account ten years ago, if you made your last payment two years ago, they still may have some working room.

As to bad checks, I have no idea in Minnesota. Contact the state's attorney's office in Minnesota and ask them. They could have a warrant out for you on the bad check.

Good Luck and Take Care

Answer 4

the following site might help. Doing a search on the statute of limitations for credit card debt brought the site up. Each state might be different
Also, if they took the case to court and got a judgement against you, it might alter the statute of limitation.
Either way, the debt will still show up bad against you on your credit report.

Answer 5

Legally, I'm sure the statute of limitations has long since passed. Morally, you should repay the money.

Answer 6

I canceled a plan with Cingular in 2001. I payed off the phone bill and canceled my service. They continued to charge me they have been hunting me down untill this year aparently they think I owe them soewhere in the 1500 $ range. I worked for a car dealership and we ran my credit. That bill showed up on my credit report. Its under revolving credit, you dont have to pay it but as with cingular companies send their maney to collection agencies and they will harrass you untill they get their way.

Answer 7

Legally they can't force you to pay $200 after a gap of 10 years..
Illegally they can do anything.

Answer 8

7 years from the charge off, Ignor them, they don't have any legal right to collect on the debt anymore.

Answer 9

Hell yes you have to pay. You owe that money, so pay up and the blesings will come your way for good deed doers.

Answer 10

heck yes you own the money it does not matter if it a year or seven years. now if you don't have the money I don't what to tell you you may have to contact a lawyer. you may have to file bankrupting.