Is their a statue of limitation on credit card debt?

Answer 1

Yes, there is. Why do you want to know? Are you planning to do something wrong like not pay the money you owe? What a nice person you are! If you loaned someone money and they didn't pay you back, I bet you would pretty pissed. Yes credit card debt can be legally forgiven after a set number of yrs. But, there is a catch. The clock can get re-set; meaning you could legally owe it foever. I won't tell how the clock is re-set. W/ luck, you'll re-set the clock and not even know it :) To others on Yahoo, please don't show this person how to cheat people out of money.

Answer 2

Each state has a different statute of limitations. The statute only limits how long the creditor can SUE to collect. Even after the statute expires, you still owe the debt.