Are fines in a collection agency forgiven after seven years?

Answer 1

No, but it falls off your credit history (I think).

Answer 2

No, a collection agency can try to collect on a debt forever. However, they only have a limited amount of time to take legal action. When the debt is beyond the Statute of Limitations, if the creditor tries to take you to court, you can let court know the Statue of Limitations has passed, and all legal action must stop. The Statute of Limitations for each state can be found here:

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

As far as how long negative credit can show up on your credit report, it remains there up to 7 years from the date you were first 30 days late, and never made a payment again.

Answer 3

Debt is not automatically forgiven, and will remain on your credit history. There is no statute of limitations because it is a civil debt.

The seven years may be the time frame they go back to determine if a debt is considered in your credit rating, but the clock would not start until the debt is paid.

Answer 4

NO
A COLLECTION AGENCY TRIES TO COLLECT A FINE.
IF UNSUCCESSFUL THE BILL IS RETURNED TO THE ORIGINAL OWNER FOR COLLECTION BY A COMPLAINT IN COURT.

YOUR CREDIT SCORE IS BASED UPON YOUR ABILITY TO MAKE PAYMENTS ON TIME.

YOU CAN REFUTE YOUR CREDIT SCORE AT ANYTIME UNDER FEDERAL LAWS OF THE FAIR CREDIT REPORTING ACT (FCRA) 15 USC 1681-1693.

THE BIGGEST CREDIT REPORTING AGENCY AND I FEEL THE BEST (OWN OPINION) IS EXPERIAN. YOU CAN ACCESS YOUR CREDIT REPORT YEARLY FOR REVIEW AND UPDATES. ONCE REPORTED TO ONE AGENCY THEY MUST REPORT TO ALL AGENCIES (EXQUAFAX AND TRANS UNION) OF THE CHANGES YOU REQUESTED AND WERE GRANTED AS WELL AS AN EXPLINATION OF WHY.

Answer 5

It is a debt, not a crime. Debts are seldom forgiven and your credit score will reflect that.