It is true that an unpaid debt does fall off your credit report after 7 years. However this does not mean that you are free from the debt. The Collection proceedings can again start against you, but I must add that the collections depend on the statute of limitation in your state. You should check out the SOL of your state. If the SOL of your state hasn't expired, it is better to pay off the debt.
All of this information looks so foreign to me. I looked at the SOL for North Carolina and I still can't make out exactly what it is saying. All I know is I am 30 years old and want to focus on clearing up my credit this year. Can anyone guide me and help me understand the process?
Hi,
I just received a summons and have read your blog about responding to the summons at the court house. I am unable to pay, so will follow up with aksing for verification of debt, which I requested last year and all they sent me was one page of a statement. What do they have to send for original documentation to prove debt is mine?. I will go to court and ask for this documentation At the time the date is set. What other recommendations do you have for requesting paperwork on the spot that these 3rd party collectors may not have?
It`s really useful! Looking through the Internet you can mostly observe watered down information, something like bla bla bla, but not here to my deep surprise. It makes me happy..!
I have 2 repo's, 1 of them I was a joint applicant on. 1 from 2/2005 and 1 from 2010. I also have medical bills. Since after so many years, debt falls off of your credit report, are these type of debts able to be brought back up?
unpaid debt fall off
Hi Guest,
It is true that an unpaid debt does fall off your credit report after 7 years. However this does not mean that you are free from the debt. The Collection proceedings can again start against you, but I must add that the collections depend on the statute of limitation in your state. You should check out the SOL of your state. If the SOL of your state hasn't expired, it is better to pay off the debt.
Most statute of limitations are less than 6 years, check here
SOL by State
if the debt is past SOL then can ask for the money but they can't sue. and after 7 years they can't post it on your report.
Help
All of this information looks so foreign to me. I looked at the SOL for North Carolina and I still can't make out exactly what it is saying. All I know is I am 30 years old and want to focus on clearing up my credit this year. Can anyone guide me and help me understand the process?
ok you live in NC. Tell me what this debt was for? What company?
Help
Hello Troy,
If you would have mentioned the type of account on which you have incurred the debt, I would have been able to help you.
Troy will have set up an account to be notified of replies.
What are sale of goods under UCC? I was looking on the link supplied by Cinnamgirl for Pennsylvania and like Troy do not fully understand them.
simple truth, What goods? what kind of account
received summons for unpaid credit debt.
Hi,
I just received a summons and have read your blog about responding to the summons at the court house. I am unable to pay, so will follow up with aksing for verification of debt, which I requested last year and all they sent me was one page of a statement. What do they have to send for original documentation to prove debt is mine?. I will go to court and ask for this documentation At the time the date is set. What other recommendations do you have for requesting paperwork on the spot that these 3rd party collectors may not have?
HkQntVXSsJaU
It`s really useful! Looking through the Internet you can mostly observe watered down information, something like bla bla bla, but not here to my deep surprise. It makes me happy..!
Unpaid Bills
I have 2 repo's, 1 of them I was a joint applicant on. 1 from 2/2005 and 1 from 2010. I also have medical bills. Since after so many years, debt falls off of your credit report, are these type of debts able to be brought back up?
XAecrmYVeRdXMBxhXf
HZU5ik Looking forward to reading more. Great post.Much thanks again. Really Great.