an unpaid credit card from over 15 years ago can the company still ask for repayment after all this time?

Question

after hearing nothing for almost 15years can a credit company still chase you for outstanding balance

Answer 1

Yes, if they see it in a overview of their past records. Some companies have collected debts that are 20+ years old.

Answer 2

No way - statute of limitations is 5-7 years depending on if you are in England or Scotland.

The statute of limitations comes into effect automatically if you have not accepted the debt in writing as being yours and you have not made a payment or contacted the company in this time either.

Contact the national debt helpline - either on the phone or on the net and get a copy of their letter to send with the exact wording such as putting 'without prejudice' at the top to cover you legally and also putting the exact act/sub section you are not liable from.

Then take pleasure in posting the said letter to the b's!

Answer 3

I would say yes, just because you've been in default all this time doesn't void the original debt. If it is something manageable, I would get it paid off so you don't continue to have unpaid collections on your credit report, that will ultimately cost you thousands in higher interest rates. Consult an attorney if you're still not sure.

Answer 4

No the mastercard organisation doesn't forgive the debt. they have written it off as a loss after this a lot time. believe me, the quantity owing after all this time should be a lot more advantageous, and ought to comprise 1000's for no longer paying each month, and previous due prices each month, and then compounded month-to-month on the utmost pastime cost. it really is a) a rip-off, or B) a collection organisation that offered a itemizing from mastercard businesses for pennies on the dollar, and then they war to assemble something they could. in simple terms ignore about it, they are risk free, even even if they're going to attempt to misinform you. They to will flow away in awhile.

Answer 5

No. They can definately not force you to pay after this amount of time. The statute of limitations for debt is six years. This means that they have six years to try and get their money back from you. After this time, they can keep asking, but they cannot take you to court or force you to pay.

Answer 6

No, the statute of limitations is 7 years in NY. You have to check for the state that you live

Answer 7

Here is a very informative link that will explain everything you need to know about statute of limitations. This is from Bankrate.com and tells how to protect your rights after 8 years and the debt has been written off.

http://www.bankrate.com/brm/news/debt/20070316_debt_collector_threat_credit_a1.asp

Answer 8

Pedz,

This is most likely a collection agency. Ignore them.

When I was in college and very irresponsible, I had Chase and Citibank cards. I eventually stopped paying. They went on my credit report and fell off after 7 years.

A few years later, after I bought a house and car with Chase as my lender, I got a call from an agency representing Chase. They tried to give me a guilt trip and I said "If they want their money that badly, tell them to tack it on to my mortgage!"

I never heard from them again, nor did the balance go to my mortgage.

The Citibank agency is chasing me now. I told them right away that I was not going to pay, since Citibank wrote the debt off. I blocked their number from calling my house.

Answer 9

i have always thought it was 6 years but apparently the answers on here vary so if its a large amount take advice but a small amount dismiss it as they wont chase it after all this time

Answer 10

If you are in the UK and they have not contacted you for 5 years then they cant do a thing.