General Discussion

davidn3600

(6,342 posts)

7. It differs by state

Thu Jul 4, 2013, 06:29 PM

Jul 2013

Usually this is termed "zombie debt." It's debt that is no longer collectable, but the creditor sells it to collection companies very cheap and then they try to collect on it. Sometimes they will even file lawsuits in an attempt to get you to contact them and settle.

You will have to check the laws in your state and probably wise to ask an attorney. The number of years before the debt is non-collectable is different in every state. Sometimes if you make any payment on it, it resets the statue of limitations.

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Is there a statue of limitation for debt collection? [View all] diabeticman Jul 2013 OP

You may find this webpage helpful... PoliticAverse Jul 2013 #1

Thanks diabeticman Jul 2013 #3

there is a statute of limitation on debt dsc Jul 2013 #2

Yes, there is an SOL. There is also a Unlawful Debt Collection Act she might want to Google. Shrike47 Jul 2013 #4

I should have said the Fair Debt Collection Practices Act. Shrike47 Jul 2013 #5

She has two problems. One is the debt collection agency, and the second is the credit bureau. Once okaawhatever Jul 2013 #6

It differs by state davidn3600 Jul 2013 #7

Yes if you make any payment at all it resets newfie11 Jul 2013 #9

IF she's sure the debt was paid, elleng Jul 2013 #8

These companies will buy old debt that is unenforceable for pennies on the dollar kudzu22 Jul 2013 #10

Four years is that Statute of Limitations on domestic contracts in PA Th1onein Jul 2013 #11