Tag: statute of limitations

Q: If there is a debt that that does not appear on my credit report and it is past the time that they can report it do I have to pay it? What can I do to stop having this ...

After some changes to federal laws in 1998 and 2005, the statute of limitation on student loans has been dissolved (with some very limited exceptions), which means that you can no longer have your student loans discharged when you file ...

When debt collectors are contacting you regularly and you’re wondering if you should just pay off the debt to get rid of them, stop! Many consumers don’t realize that the debts some bill collectors are chasing after aren’t the consumer’s ...

When you miss a credit card payment, mortgage payment or end up going into deep debt that you can’t realistically pay off within a reasonable amount of time, you put yourself at risk for bankruptcy or foreclosure. Many people who ...

Don't pay them anything. Send a cease and desist letter in which you tell them to stop contacting you. Harassing people about debts (old debts, like yours, or current ones) is illegal under the Fair Debt Collection Practices Act.

A man has an old credit card debt that is over 12 years old. The problem is that the debt still appears in his credit report. What should he do? Click now to hear Lynnette's answer.

Question: I am a 23-year-old college student with a bad debt of about $12,000 with American Express. I believe the Statute of Limitations in Maryland is 3 years. I do not remember the last time I made a payment to ...

Q: How long does a negative item stay on your credit report? A: This debt should have long since fallen off your credit report. Under the Fair Credit Reporting Act, negative information such as the 90-day late payment you mentioned ...

Q: I owe Dell Computer about $3,000 due to lack of payment. I tried to pay them monthly but they won’t accept that. They want a settlement of $1,800 or payment of $450 a month which I do not have. ...

Q: Should I pay off old debt from department store credit cards that are at least 10 years old? It seems like my creditors re-sell my old credit accounts to a new collection agency every few years. A: If a ...

Q: I opened A credit card account back in college in the year 2000. I have never paid it off the amount I owed. Should I pay it or not? A: If the credit card is still open, then by all ...

Consumers often pay off debt for which creditors can no longer seek legal action because the Statute of Limitations has already expired for the account. Consumers pay off these accounts perhaps because the accounts still appear on their credit reports, ...