can they go after you after 10 years for bankrupsy and 10 years for non payment
2007-07-28 17:48:57 · 6 answers · asked by pandora 1 in Business & Finance ➔ Credit
Bad credit stays on your credit report for 7 years after you make the last payment. So after 6 1/2 years, they start getting desparate, and will make you outrageous offers. Don't fall for them. Because if you make a settilement payment after 6 1/2 years, you'll have to wait another 7 years for it to finally come off.
How long they can legally come after you depends on the laws of the state where you live and the state where you signed the contract. Each state has various statute of limitations to file a legal claim for non-payment of debt. Only a few states would they be able to go after you 10 years after the fact. Checkout the following website:
http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml
2007-07-28 18:10:42 · answer #1 · answered by shoredude2 7 · 0⤊ 0⤋
The negatives fall off your credit report after 7 years. The Statue of Limitations (SOL) varies from state to state. However, they can still come after you to pay the debt.
SOL is an affirmative defense if they sue you. But you must show up in court.
Bankruptcy will stay on your credit report for 10 years but collectors cannot come after you for debts discharged in bankruptcy.
2007-07-28 18:31:50 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
Bankruptcy stays on your credit for 10 years.
Missed payments stay for 7 years.
2007-07-28 17:57:10 · answer #3 · answered by the_bloody_grinch 3 · 0⤊ 0⤋
7 years is the maximum. If the account is charged off then it is 7 years from the charge off date. Bankruptcy stays on for 10 years.
2007-07-28 18:21:05 · answer #4 · answered by C C 3 · 0⤊ 0⤋
Hi.
This site is well recommended for credit repair:
http://qurl.com/ksh9f
2007-07-29 06:38:41 · answer #5 · answered by ball b 1 · 0⤊ 0⤋
I think it is 7 years for everything.
2007-07-28 17:56:26 · answer #6 · answered by katesomes84 3 · 0⤊ 1⤋