If you default on a credit card debt, the late pays and charge off from the default will stay on your credit report for 7 years. What about the debt? Once it comes off your credit report, do you still owe it? Credit Reporting Confusion A common misconception exists that credit card debt you owe [...]
Entries Tagged as 'statutue of limitations'
Is Unpaid Credit Card Debt Still Valid After Seven Years?
April 22nd, 2011 · No Comments · Consumer Debt, Credit Reports
Tags: collection agencies·Credit card debt·credit report·credit reporting confusion·debt·debt expiration·Payment History·statutue of limitations·zombie debt
What is a Reasonable Settlement Offer on a Repossession?
June 28th, 2010 · 2 Comments · Auto Loans, Debt Settlement
Q. What is a reasonable offer when trying to settle a $7000.00 debt? My husband and I owe on a voluntary repossession from almost 5 years ago (shame on us I know) and we want to negotiate with them so that we can buy a house. We aren’t sure what cash offer we should offer [...]
Tags: auto repossession·charged off as bad debt·credit report·debt settled for less than owed·Debt Settlement·Junk Debt Buyers·statutue of limitations
Debts and Finances Forcing Us to Move Out of Country
October 19th, 2009 · 3 Comments · Banking, Debt Collection, Debt Settlement, Mortgages
Q. This past summer we completed a short sale on our home. There was a first and second mortgage holder, and the first mortgage holder (major financial institution) assumed the second during the final negotiations. It was our assumption all debt was satisfied (and you know what you get when you assume). Since the time [...]
Tags: debts·finances·foreclosure·Out of Country·relocate·second mortgage·short sales·statutue of limitations·tolling
