Collection Agencies must stop pestering people after 7 years, right?

Question

please point me to the law regarding this (in California), thank you.

Answer 1

Wrong.

You borrowed the money. You owe the money. They can continue to try collecting it forever.

You could just pay the money you owe.

Answer 2

I am not sure of California Law, but the 7 year rule is that it will disappear off of your credit score after 7 years. If you have a credit card for whatever amount, let's just say it's 5 thousand dollars. They will call you until you absolutely let them know you cannot pay it or you make a deal with them to pay it off for a lesser amount (usually about half if your lucky). The company will then write it off and it will go on your credit report as an unpaid credit card. It will stay there and ruin your life for the next 7 years. If you want them to stop calling, tell them you cannot pay it and to write it off.

Good Luck - had this problem in college and it was awful

Answer 3

http://www.ag.ca.gov/consumers/general/collection_agencies10.htm

that's the website you want... but everyone's right: you need to pay your debt. If you still owe even 0.32c... then you owe that and they'll harass the crap out of you to get it. Or, they'll let interest build up on it until one day you get a bill for $300. And yes, they do this too.
For future reference: when you pay a debt off completely, make sure to get a letter from the creditor stating "the account has been paid in full and is now CLOSED". This means you need to cancel it. Apply for a new one later, but get a LETTER and make sure that your lawyer and credit agency have copies of this letter.

Hope this helps.

Answer 4

I'm not sure, but I think if the original creditor sells your contract to another agency, then it is like a new claim (7 years) This could go on and on, because collection agencies typically hold the new contract for a set amount of time before they sell it to another agency.

I might be wrong, but that is my understanding.

Answer 5

Again, F-u to those that have to put down this person.

They are asking a question---

Now,
they can contact you for the rest of your life unfortunately. BUT seeing it is past 7 years
-You are exempt of being sued past the states SOL
-this debt should be off your credit report.
for the calls and letters you can send them a letter telling then to discontinue any contact with you about this debt. Send it by certified mail if they continue you can file a grievance against them and get them fined.
Finlay these collections agencies will sell that debt to another another one and the process start es over again, whatever you do, don't admit the debt or make payment.

Answer 6

Nope
Your credit history is cleared after 7 years, assuming that the debt has been cleared, Thats it

Answer 7

Technically no. You would have to go through the procedure to get it off of your credit report. Then they can't harass you about it. Doesn't matter where you live. Just ask for the dispute forms from the credit bureau.

Answer 8

If you owe someone money, the debtor can come after you until you pay or until the debt is discharged in bankruptcy.

Answer 9

If you went through bankrupcy, they have to stop if you listed them as a debt and it was put into the bankrupcy, otherwise I think they can bug you forever or sell the debt to someone else who can bug you forever..

Answer 10

You may be confused. Once you file bankruptcy, you are not permitted to file bankruptcy again for seven years.