can collection agencies legally collect on debts 7 years old already?
930591
I hunted all over.. interesting question.. I found the link for you to browse. I learned some new information I had no idea about as well. Thank you. LL.
298165
The above answer is wrong.  Credit reporting agencies keep records of defaults for 7 years.
1043220
The seven years is almost up, don't waste the money.  It's not a subpoena, just a shakedown letter.  It may not actually get removed from her credit report after seven years, but it shouldn't be taken into account by new creditors.  It was charged off, so they're out the money and she's out her credit rating.
800646
Short answer is yes and after seven years your credit history would be clean aswell. I just moved in this country and didn't tell them where and they wrote my debt off but my credit has been screwed for years, and if i could go back i would not do it again
1039854
If you are talking about the reporting time with the credit bureaus it is 7 years for things like credit cards etc.that are closed, reporting negatively. (but you can try to dispute things off early, about 6 months, as obsolete)\n\n10 years for tax liens, judgments etc.
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
68575
Until you take care of it...or I did hear that after 7 years it gets taken off but I wouldn't trust that.  The best way to find out would be to call a credit counseling business and ask them.
130502
The collection department of the creditor can begin calling you the day after your payment is due. Normally it is at least 60 days past due before the account is turned over to a collection agency.
12303
If you're talking about a legal judgement on your credit report, it would be no more than 7 years.  It may be less, depending on your state of residence.
537303
The debt is void if request for payment has not been made in 7 years. If they contact you, requesting payment, every 6 years the debt is still valid until bankruptcy or death.
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!
426070
What was the date you defaulted on the loan?  When did you pay last?\n\nWith that much penalty/interest, it sounds like an old debt.  Each state has a statute of limitations, and after that time you have no legal obligation to pay the debt.  So that will at least get any creditors off your case.\n\nAs for your credit report, you can try what the previous responder said, and send a letter to the collection agency (See the links I've supplied below for info).  But I'm going to bet it won't work in your case, especially for a large credit card company that does this nonsense all the time.  They know the game, and know how to play dirty.\n\nJust because a loan has been charged off and closed does not mean you are off the hook.  The balance can be sold to a collection agency, and they can continue to try and collect.  Without looking at your agreement, I can't advise on how legal their intrest and penalty charges are.  But they will also threaten you with legal fees if they try to take this to court.\n\nCredit reporting agencies will report this debt for 7 years, after which they MUST remove it.  So check the dates, and if this is an old debt my suggestion is ride it out, then watch the report drop by itself.\n\nContact me if you need more info.
866440
Lawyer here and a NY lawyer--\n\nYou haven't given enough information and the way your question is phrased I'm not sure what you are asking...there is no statute of limitations applicable to debt collectors, only as to debts.  Now if you are talking about oral, written contracts, promissory notes or open accounts (and that would include a credit card revolving charge account) the statute of limitations applicable to a suit to collect the debt is six years.  \n\nThe NY statute of limitations starts to run on a credit card account from the time the debtor becomes delinquent.\n\nThe statute of limitations does not prevent the filing of suit--you can still be sued, but you raise the statute as a defense.\n\nYou mention fraud, without giving any details, so I can't say what fraud you are talking about or whether it is fraud.  However, if you were defrauded, that too would be raised as a defense to any suit against you and can also be raised as your own claim against your alleged defrauder--assuming the statute of limitations on fraud has not expired.\n\nFinally, if you are talking about debt collectors, the statute of limitations will not bar them from trying to collect the debt.  In fact, if you say the wrong thing to them, you can revive the debt and start the statute of limitations clock running again.  So my first advice is don't even talk to them--when you do they try to get to you make statements that go against your interest and they record them in their business records which are admissible as evidence in a suit against you.  \n\nThe creditor or collection agency may theoretically continue with letters and telephone calls forever (although third-party collectors are subject to the "cease and desist" provision of the Fair Debt Collection Practices Act.)\n\nBelow are a couple of links which might help you if your problem is credit card debt:
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!!!
250247
There is a statute to limitations, and in most states it's 7 years. Meaning after 7 years it's too late to file a claim against you.
666453
How long ago is LONG time ago? Check the statute of limitations on credit card debt for your state. For Ohio, they cannot collect anymore after 6 years. You can find out on suzeorman.com
585440
Read the link below.  It discusses what the statute of limitation is, and what the length of time in your state is.  Most states run 4-6 years, but some are more.  So look at the link.\n\nThe very first thing you need to do is send the collection agency a "demand to validate".  This is a demand that they send you proof that you have a legal obligation to pay this debt.  They must send you copies of contracts, bills, receipts, and everything used to calculate what they claim you owe.\n\nInclude in this letter a statement that you do not believe this is your debt, and tell them you expect some proof.  Also remind them that posting unvalidated reports to your credit history is a violation of the Fair Credit Reporting Act, and they can easily be sued in small claims court for $1000 if they try to do it.\n\nAlso include wording to the effect that they must cease and desist contacting you.\n\nSee the link below for a sample letter you can use.\n\nIf you have not checked it recently, get a copy of your credit report and verify that they have not posted anything on your history.  You can get a free copy by going to http://www.annualcreditreport.com\n\nContact me if you need further advice or encouragement.