How many years does a credit card company have to collect on a past due bill ? it's been over 15 years can the
352273
Yahoo just had something on the homepage about devious "junk buyers" buying old debt for pennies on the dollar and then trying to make you pay even after the statute of limitations had passed-I know there is limits but as to what they are I can not 100% tell you.  \n\nAnd actually it is never 'removed' from your credit report, but companies only 'pull' a 7-10 year history, so it does not show, the debt is always listed on the report, so it never really disappears, just hanging out in old debt land, and if you go for a Senate Hearing or something they will pull it up.\n\nThe report said something about the basement buyers buying the debt and then reporting it as a 'new' debt to get it back active on your Credit Report, which is against the law.  The report also said they target those that paid some debt, because they were more worried about the ramifications of the credit report.  I will research and see if I can find the article-it was an informative read.
365213
In this case, they can.  But read my entire message...\n\nAccording to the Fair Credit Reporting Act, they can only report your debt for 7 years, starting from the DAY YOU DEFAULTED on the loan.  Many people are reporting that it begins on the date of the last transaction.  They are wrong.  Read the info in the sources below, I think it states it pretty clear.  If that's not good enough, I can send you a copy of an FTC position statement to clarify it even more.\n\nNow, many times collection agencies will purchase an account, and not really know when the default date was.  So they will simply place whatever date they want on it.  This "date bumping" is illegal, and if you can prove it you can sue them for $1000.  If you have any past bills or paperwork, examine it.  Check the reporting date on your credit report.  If it is wrong, protest it and get the whole negative report removed from your record.  \n\nThe reason they get away with this is because you don't know the law.  So they will take advantage of that to harrass you.\n\nNow, as for actually collecting the debt, check the statute of limitations for your state.  After that date, you no longer have a legal obligation to pay them.  The can continue to try and collect, but any legal action can be tossed out of court due to the expired SOL.  \n\nRead the links below for more information on this.  \n\nYou are fighting a war with creditors.  Do not fight them unarmed.  Knowledge of the law is your only weapon!  Get armed and read the links below!!!
668687
it should be cleared, as well as all attempts to collect it after 7 years of default. you will have to do the leg work as creditors won't do it on their own, so push them and keep pushing them to remove it.
905692
Most people fail to hang on to the terms of their credit card agreements (think about it, did you make a copy when you applied for the card) did you read ALL the fine print? \n\nMost credit card companies have long stipulations on the payment terms for your credit card... especially if there is any type of incentive or introductory offer on the card (0% interest, etc).  \n\nPayment is due on the due date (in their office being processed) prior to a cut off time (in most cases 3pm same as the bank). \n\nCredit card companies bank (no pun intended) on you being late or screwing up, because they make a large amount of their monies on fees and punitive interest rates.   Some credit card companies also shift their PO Box addresses by 1 or 2 numbers so that the delay and forwarding will make you late, and they can theirfore charge your out the nose.\n\nI would try and argue the late fee, tell them that you made an effort to get it out in time and would like to get that removed... be prepared to offer something up, such as another payment in order to have the charge removed...\n\n\nalso $90 seems really high... that is a lot to be charged and may exceed what they are legally allowed to charge...
1118434
YES THERE IS!! I'm so glad you asked! It's 6 years baby! I had to cut Sears off for trying to collect after 10 years! BIG NO NO! 6 years, that's it! Check out suzeorman.com. Other debtors can still try to collect after 7 years, but after 7 years it is to drop from your report. Watch out for judgements. They can stay on for 15 years and get RENEWED! Consumers have no justice I swear. Hope this helps!\n\nTo the third answer, NO THEY CANNOT CONTINUE TO COLLECT. It is a statute, so it's law. After 6 years, they would be going against Ohio State Statute, against the law. They cannot collect after 6 years, and it must be removed from your credit report after 7 years. Thrid answer needs to do some more research. www.suzeorman.com
145389
if the bill is your you have to pay it unless the biller has not billed you for one year
565927
~*EmJaY*~ is absolutely correct.  Refer to the links she posted.\n\nAccording to the Fair Credit Reporting Act, debts can not be reported for longer the 7 years, beginning from the day of delinquincy.  For example, if you owed a credit card company $100 on Jan 1, 1995, and you missed that payment, THAT is your delinquincy date.  \n\nIt is NOT the day they charged off the debt, or send it to a collection agency, or the day you contacted them to try and negotiate a new payment plan.  \n\nHow do you get rid if it?  Easy.  Read the FCRA.  Here is a quick rundown....\n\nSend the Credit Reporting Agency (CRA) a letter disputing the listing.  If you have any evidence to support your claim send it to them.\n\nAt the same time, send a letter to the collector who is reporting this debt.  Demand that they "validate" the debt.  The wording is important!  Validate means they must send you copies of contracts, bills, receipts, and everything used to calculate what they claim you owe.  \n\nUse the sample template letter below.\n\nThey have 30 days to respond to your letter, or respond to the CRA. \n\nIf they do not send you validation proof, and the listing remains on your report, you can easily sue them in small claims court for $1000 for violating the FCRA by reporting "unvalidated" debts.  Suing them is easy to do.  I've done it, it works!  But you need to follow the procedures to the letter!\n\nContact me if you need help or advice.
111803
Most of the time its on there for 7 years. Its going to be a big problem with getting a loan, your best bet is to contact the company and make payment arrangements, before applying.
679994
Record retention depends on the law of land and differ from country to country and type of the record. So you have to check out in your country whether these records are required to be kept for so long. \n\nOn debt, there is law of limitation which states that someone cannot claim debt after certain period if you have not acknowledged that for specific period. For example in India it is 3 years for private loans so the company cannot rely on any legal document signed by more three years back.\n\nConsidering all this you should not pay and dispute the bill. Onus is on them to prove the bill.
74830
That depends on what type of debt is causing your bad credit. There are a number of different time frames for items to be removed from your credit report. Inquiries remain on your credit report for 2 years. Delinquencies, collection accounts, charge-off accounts, chapter seven bankruptcy, and paid tax liens remain on your credit report for 7 years. Chapter thirteen bankruptcy remains on your credit report for 10 years. Unpaid tax liens remain on your credit report for 15 years. This information came directly from the credit bureau. If you feel the information on your credit report is too old to still be reported, you should file a dispute with the credit bureau directly.
1065045
I'm afraid the above people are incorrect.  There absolutely is a statue of limitations for collecting a debt.  It goes by the type of debt and the state in which the debt laws are under.  Please take a look at the sources section for a link to a website that shows the statue of limitations on debts by state.\n\nJust because there is a statue of limitations on collecting the debt does not mean that they still cant report it to your credit.  They just cannot harass you and it is often easy to get it removed by paying less than you owe.  (by your question I cannot tell if you are going after someone who owes you money... or if someone is trying to collect against you... So I am just assuming someone is trying to get money from you.)\n\nIf you want the item removed from your credit you can contact the collection agency or the original debtor by mail (be sure to do everything by mail as it will give you proof in court if it has to go there)  Make sure to send all letters certified mail also, and keep copies for your records.\n\nI suggest you first dispute the claim that you own the money and ask for a copy of your signature on the document stating that you accepted the terms of the loan (or whatever they are after).  Please note it is illegal to dispute items that you know you owe, but if you honestly feel you dont owe it or cannot remember back that far, etc then it can be disputed with both the credit reporting agencies (transunion, equifax, experian) and to the collection company or the original person who claims you owe money.  \n\nIf that fails or you find out "Opps I remember doing that now" then you need to clear the mark from your credit.  Legally they cannot harass you and it is just in your best interest to clear the matter.  You can often settle for less than you owe, since they know they cannot legally come after you for the debt since it is so old.  Be sure to get in writing that they are willing to accept $xxx.xx and will remove the matter from your credit.  When you send the check send a "Restrictively Endorsed" check and letter.  AGAIN keep copies of everything.\n\nThe "Restrictively Endorsed"  letter will pretty much read as follows:\n\nDear SO and So,\n\n    Please find inclosed a check for the amount of $xxx.xx  which is to be used to pay off my account XXXXXXXXX.  Your acceptance of this check signifies that the account is paid in full and that you will remove all derogatory items from my credit report for all of the major credit bureaus.\n\nThank you so much,\nSo and So.\n\nWhen and if they deposit that check... They have just agreed to the terms in your letter.  Again the letter and check must be in the same envelope.  They must be sent registered mail, and keep a copy of everything.\n\nHope this helps you to remove that collection or at least clear it up (again the statue of limitations is below for your review).  If you are trying to collect a debt then the below link will help you to decide the statue of limitations also.
487175
Would need a bit more info to advise you.  How many credit cards arewe talking about, what balances, what state?\n\nTake a look at the link below.  It describes what the Statute of Limitations is, and the reporting period for your credit.  \n\nLike Icsowesmemoney stated, they can sue you.  But as a general rule, they usually don't go after you unless you owe more then $1000, and it depends on if the collection agency is located near you or not.  Having to hire an out-of-state attorney isn't worth it unless your balance is fairly large.\n\nIf the Statute of Limitations has run out, you are home free.  If it's about to run out, you can gamble and hide from the collectors.  \n\nAs for your credit rating, debts are reported for 7 years, beginning on the day of the delinquincy.
1111286
Yes.  Charging off is just an accounting term, and most companies do this after a certain period of no payment.  This does not make the debt disappear.  You still owe the debt, so they can sue until the statute of limitations runs out in your state.
839550
everything is cleared after 7 years. i think it is dated from the last date of activity. like if you make a payment tomorrow, the 7 years would be up 7 years from tomorrow. if you haven't made a payment in 2 years, you still have 5 years left.
584719
FIRST YOU NEED TO FIND OUT IS THIS IS A JUDGMENT OR NOT.\n\nIF IT IS NOT, THEN THE STATUTE OF LIMITATIONS HAS PROBABLY RUN ON IT.  THIS DOESN'T MEAN THAT YOU DON'T STILL OWE THE MONEY, IT JUST MEANS THAT THEY CAN'T SUE YOU NOW.  THEY CAN STILL ACTIVELY COLLECT THE DEBT.\n\nIF IT IS A JUDGMENT, THEN YOU ARE PRETTY MUCH SCREWED.  DEPENDING ON STATE AN LOCAL LAWS A JUDGMENT CAN STAY ACTIVE FOR OVER 30 YEARS AND ALSO REFLECT ON YOUR CREDIT FOR THAT AMOUNT OF TIME AS WELL.\n\nREQUEST VALIDATION OF THE DEBT AD GO FROM THERE.\n\nGOOD LUCK
896888
If the creditors are older than 7 years you can request the credit reporting bureaus remove them. Unless it is items associated with bankruptcy which can remain on your credit report up to 10 years.\n\ngo to www.annualcreditreport.com and get your credit report, then look over them and read it for information on how to take care of incorrect items, out of date items, etc.
185128
check your credit report and dispute whatever you can on it.  if credit companies cant prove you owe this amount or if the report is past 7 years, then they have to remove it.  experian is the easiest to dispute online...i wiped out 13/24 debts from my report just by challenging them online within 6 weeks!!  it'll take some time and a bit of effort, but not as hard as i thought, and definately worth it!