14 year old debt

Leave it alone, I have never heard of a statute of limitation that has run this long.

If you don't mind, what state are you from?

Have you pulled your husbands credit report to see if it is even still on there?

Hi Eastgonewest
If the payment to the debt was last made in 1994, then the Statute of Limitation to the debt has already expired because the SOL ranges from 3 years to 10 years depending upon the state you signed the credit card agreement papers. Moreover your 7 year listing period is already over and so your credit report will no longer show the debt and hence your credit score will not be affected by this debt. Hence you need not pay it back.

Yes, Carol is right. However, there are some states where the statute of Limitation is 15 years as in Kentucky, but that is only for promissory notes like mortgage and written contracts and not for credit card debts. The creditor or the credit card company cannot force you to pay off the debt if within this period after 1994, you have not made any payment. But if you make any payment now, the SOL may rewind and the creditor can bring judgment against you and recover the entire debt including interest. You should note that there is no benefit in paying this debt. In fact, you may be in a new trouble if you make even a single payment towards the debt.

Hi Eastgonewest
There is no need for you even to send a Debt validation letter, because your husband has no obligation to pay off the debt. The collector has even lost their legal right to sue your husband to the court to recover the entire outstanding debt. But as Anthony said, you should never make any single payment towards the debt even if they request you to pay a small amount. Because this will rewind your SOL.

After checking his credit report you should see that the debt is no longer even listed. I would get that debt validation letter in the mail (certified) as quickly as possible. There is no SOL that is this long. So his debt has to be expired unless he made any previous payments, probaly in the last few years. Check with him to be sure he has not made any payments recently and get a cease and desisit letter out to this collector.

I don't know what the SOL of 'time frame' of a debt is in Kentucky. However..if hte debt was THAT old, i would leave it alone. Actually..I don't think it would be on your CR anymore, either. You said hte CA is in Florida? Did you receive any kind of letter, along with the phone call? ALOT of CA's try and get their money anyway they can..even if the debt is that old. These CA's just assume that the 'consumers' don't know any better and will start paying on it agin. If you do that, you will 're-age' the debt..that means you will start the SOL over and then you WOULD have to pay for it. NOT a good thing to do!!