im still to this day getting calls from creditors bout bills that have passed the 7yr mark, i thought after 7yrs they fall off the cliff , my credit is perfect now and it was bad then , what do i do??? tell them off or take deals to pay it off , talk to me people??
2007-07-25 12:44:47 · 4 answers · asked by steve-o 3 in Business & Finance ➔ Credit
I'm guessing that these are general type debts - credit cards, bank loans, etc?
The reporting period for those accounts is 7 years.
Those accounts cannot legally be re-aged and placed back on your reports.
If those are the type of debts you have and you live in MA. (I looked through your questions and saw that you claimed to live in that state) then you are out of the collecting SOL and you have a legal right to send them a SOL letter to inform them the account(s) are past the legal time limit to collect.
The collecting SOL's for MA --
Open account (other than sales) 6 years
Written account (contract) 6 years
Sales contract (UCC) 4 years
If the accounts are government type of debts, taxes, gov. backed student loans, etc. or from a judgment - then you would still be liable to pay
You might click on my profile and do some reading in the last link listed.
2007-07-25 13:23:38 · answer #1 · answered by echo 7 · 0⤊ 1⤋
If you dispute them, they will probably not have any info to contest it so it will be removed from your record. You can dispute by contacting the credit reporting agencies directly.
2007-07-25 19:56:36 · answer #2 · answered by Anonymous · 0⤊ 1⤋
As I understand it, after 7 years (unless its student loans) you don't have to pay them. And if you tell them not to call you anymore, they're not supposed to. http://clarkhoward.com will tell you exactly what to do on the front page.
2007-07-25 19:51:53 · answer #3 · answered by Wes A 2 · 0⤊ 1⤋
Doesn't mean you don't owe the money anymore!!! Pay them and they'll stop calling.
2007-07-25 19:58:08 · answer #4 · answered by Anonymous · 1⤊ 1⤋