It has been well over 7 years and they are still harassing me. I thought after 7 years debts didnt have to be paid unless they were governmental debts? Where can i go for excellent legal help?
2007-10-02 15:26:48 · 9 answers · asked by Fallen Angel 1 in Business & Finance ➔ Credit
DON'T file bankruptcy. Find a consumer attorney and start suing the collection agencies if the debts are indeed out of statute. Probably just a letter of intent from the attorney will get the matter cleared and maybe a settlement check.
2007-10-02 15:32:38 · answer #1 · answered by steve.c_50 6 · 0⤊ 3⤋
Negatives fall off your credit report 7 years and 180 days from the date of delinquency. This does NOT mean the collectors can not continue to try to collect the debt. They can follow you to the grave trying to collect. It just means it cannot be reported on your credit report.
The second factor is the Statute of Limitations (SOL) which varies from state to state. This is the timeframe to sue for the debt. Check here for the SOL in your state: http://www.fair-debt-collection.com/SOL-by-State.html
Debts that old have probably been purchased by one of the "scumbag" collectors. They are very aggressive about collecting, including suing and hoping you don't show up so they can get a default judgment.
You can send the collectors a cease and desist letter and they should stop calling. However, they will probably just sell off the debt to another collector and the calls will start over again.
2007-10-02 15:35:17 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
There are statute of limitations on debt, but unfortunately, they are not governed by federal law. Since the states govern this area, it is all over the map on the time frames.
Check out the website below for your state. If you are still within the statute, you can only get rid of them by filing bk. That is the only way out. Otherwise, you can ignore them.
The best legal help is a good bk attorney. I went that route 8 years ago. My credit currently is above 740.
2007-10-02 15:55:33 · answer #3 · answered by Steveo 5 · 0⤊ 0⤋
No. Don't file bankruptcy! The debts are no longer legal as long you don't tell them you will repay them. When they call you should tell them that you are no longer liable for the debts and to stop calling you. Also write them. If they continue you should see a lawyer.
2007-10-02 15:31:08 · answer #4 · answered by Anonymous · 1⤊ 0⤋
You have a legal and moral obligation to pay your debts - have you learnt nothing in life!? Obviously not.
Do the right thing - pay your debts, or expect to go to jail or be beaten to a pulp by a debt collector. Nobody owes you a living!!
2007-10-02 17:30:46 · answer #5 · answered by Anonymous · 0⤊ 2⤋
i used to work for a collection agency and how it works i like this: at the timeframe of about 6 years and 10 months, the credit card company whomever you owe, then sells your debt and then your debt timeframe starts all over. BOOM! your 7 years starts all over!
2007-10-02 15:31:42 · answer #6 · answered by GG 7 · 0⤊ 3⤋
They are pressing their luck hoping to squeeze something out of you. The statute of limitations for suing you is probably long gone but they can tie up your credit report for 10.
2007-10-02 15:31:01 · answer #7 · answered by Anonymous · 1⤊ 1⤋
Pay off your debts
2007-10-02 15:30:37 · answer #8 · answered by bob shark 7 · 1⤊ 1⤋
File for bankruptcy.
2007-10-02 15:29:21 · answer #9 · answered by jersey girl in exile 6 · 0⤊ 1⤋