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will an unpaid debt fall off your credit report?

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Guest

Subject: will an unpaid debt fall off your credit report?

Wed Feb 03, 2010 12:58 am

i have a unpaid debt that occured 6 years ago and i was told that it will fall off my credit report after seven years is this true?

Justin

Justin

Joined: 17 Jul 2006
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Subject: unpaid debt fall off

Wed Feb 03, 2010 5:34 am

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.
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Justin

cinnamngrl

Joined: 01 Nov 2008
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Wed Feb 03, 2010 10:28 am

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.
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Troy
Guest

Subject: Help

Wed Feb 03, 2010 9:32 pm

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?

cinnamngrl

Joined: 01 Nov 2008
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Wed Feb 03, 2010 11:55 pm

ok you live in NC. Tell me what this debt was for? What company?
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Justin

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Subject: Help

Thu Feb 04, 2010 6:10 am

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.
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cinnamngrl

Joined: 01 Nov 2008
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Thu Feb 04, 2010 11:46 am

Troy will have set up an account to be notified of replies.
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simpletruth

Joined: 29 Sep 2009
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Posts: 35

11 Magic Points

Sat Feb 06, 2010 3:45 pm

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.

cinnamngrl

Joined: 01 Nov 2008
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Sat Feb 06, 2010 4:24 pm

simple truth, What goods? what kind of account
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isabel
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Subject: received summons for unpaid credit debt.

Mon Apr 26, 2010 5:40 pm

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?

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