How Long Does Credit Card Debt Stay on Credit Report
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Posted: Thu Sep 23, 2004 12:12 am
Post subject: How Long Does Credit Card Debt Stay on Credit Report
Allan
Date: 3/13/2001 7:56 am CDT
Recently I got a notice that I owed money for a card debt that is over 10 years old. It was in my name but my ex was going to pay it.I guess she didn't, and her paying it now is not a option. I wasn't aware of it and my credit got screwed up for many reasons for several years. After doing the rehab deal I started to turn my life around and now things are good and have excellent credit. Never any problem over that old debt. They said they bought this acct from the bank and will neg. for a payoff. I have little money, but want to do whats right. Is this a scam? Can they damage my rebuilt credit ? What can I do?
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Posted: Thu Sep 23, 2004 12:13 am
Post subject: How Long Does Credit Card Debt Stay on Credit Report
Dani
Date: 3/13/2001 3:18 pm CDT
Allan,
The statue of limitations is up. Also, since the debt is over 7 years old it is probably off your credit report. Is this right? There is not a whole lot they can do except call and harrass you. I would either ask them to stop calling or send them a cease and desist letter. Hope this helps.
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Posted: Thu Sep 23, 2004 12:14 am
Post subject: How Long Does Credit Card Debt Stay on Credit Report
Adrianna
Date: 3/14/2001 0:00 am CDT
Even though the negative information should be removed after 7 years and 180 days--and if it has not, contact the credit reporting agencies and request that the derogatory item be removed--the debt may still be collected and the third-party collection agency may still insist on trying to collect.
The first step is to obtain a copy of your credit reports, if you have not already done so, and to check whether this debt is listed, although more than likely it isn't.
Remember that collection agencies operate on the basis of profit and will attempt to collect a debt as much as they can. Don't let their empty threats or intimidation get to you--you do not owe *them* any money, they are simply trying to *collect* it on behalf of the original creditor, although after so long, the debt will be purchased and further attempts to collect will be made. In short, let sleeping dogs lie; if they keep it up, send them a cease and desist letter--they are obligated by law to stop contacting you when you send such a letter.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Sep 23, 2004 12:12 am
Post subject: How Long Does Credit Card Debt Stay on Credit Report
Allan
Date: 3/13/2001 7:56 am CDT
Recently I got a notice that I owed money for a card debt that is over 10 years old. It was in my name but my ex was going to pay it.I guess she didn't, and her paying it now is not a option. I wasn't aware of it and my credit got screwed up for many reasons for several years. After doing the rehab deal I started to turn my life around and now things are good and have excellent credit. Never any problem over that old debt. They said they bought this acct from the bank and will neg. for a payoff. I have little money, but want to do whats right. Is this a scam? Can they damage my rebuilt credit ? What can I do?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Thu Sep 23, 2004 12:13 am
Post subject: How Long Does Credit Card Debt Stay on Credit Report
Dani
Date: 3/13/2001 3:18 pm CDT
Allan,
The statue of limitations is up. Also, since the debt is over 7 years old it is probably off your credit report. Is this right? There is not a whole lot they can do except call and harrass you. I would either ask them to stop calling or send them a cease and desist letter. Hope this helps.
archive
Posted: Thu Sep 23, 2004 12:14 am
Post subject: How Long Does Credit Card Debt Stay on Credit Report
Adrianna
Date: 3/14/2001 0:00 am CDT
Even though the negative information should be removed after 7 years and 180 days--and if it has not, contact the credit reporting agencies and request that the derogatory item be removed--the debt may still be collected and the third-party collection agency may still insist on trying to collect.
The first step is to obtain a copy of your credit reports, if you have not already done so, and to check whether this debt is listed, although more than likely it isn't.
Remember that collection agencies operate on the basis of profit and will attempt to collect a debt as much as they can. Don't let their empty threats or intimidation get to you--you do not owe *them* any money, they are simply trying to *collect* it on behalf of the original creditor, although after so long, the debt will be purchased and further attempts to collect will be made. In short, let sleeping dogs lie; if they keep it up, send them a cease and desist letter--they are obligated by law to stop contacting you when you send such a letter.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:06 PM
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