If a credit card balance is over 10 years old can they still attempt to collect?

Question

Apparently I have an outstanding credit card balance that is over 10 years old. I have not heard a thing from the credit card issuer until recently. It is also not listed on my credit report. Do they have the legal right to try and attempt to collect through a collection agency?

Answer 1

Don't know what state you live in. These things vary from state to state.

Talk to a bankruptcy lawyer about it -- probably not. Statute of limitations on the debt has probably passed

Check this out

http://fair-debt-collection.com/SOL-by-State.html

Do NOT acknowledge the debt !!!!

http://www.google.com/search?hl=en&q=debt+%22statute+of+limitations%22+collection

If they continue to harrass, these might be scammers -- be carefull and;

http://fair-debt-collection.com/


Good luck

Answer 2

when you say the balance is 10 years old, has the account been dormant for 10 years? that is the critical factor and it should tell you the last date of activity on your credit report. (the other poster is right, if you contact them they might count that as new activity which starts the statute of limitations clock all over again). most states have a statute of limitations of 7 years or less...so the creditor can still attempt to collect, but if you don't pay they can't sue or take any other adverse actions. it must be a big amount if they are still trying after a decade.

Answer 3

If you loaned me $1000 ten years ago, but I moved away and you lost touch, if we ran into each other by chance, can I assume you don't want your money any more, it being such a long time ago? Or would it make more sense for me to expect you to want your $1000 plus 10 years of interest?

Do you think YOU should have a "legal right" to your money back?

Answer 4

Unless if you had filed bankruptcy between then and now, you are still likely responsible for that payment.

It's odd that they are not pursuing you on payment if you have an active balance on that card.