Credit Card Debt more than 10 years

[paradox3696]

hi folks, what happened to credit card debt about more than 10 years? My understanding from the forum is that they will disappear from the credit report.

But can CA "re-activate" the debt account and start pursuing the payment again after 10 or more year?

What about credit debts that are under garnishment after 10 year? will they disappear? and can CA ask for payment again? is there statue of limitation so that they can never pursue the debt after certian period?

Hope someone can help to clarify

Thanks

[Shae]

is there statue of limitation so that they can never pursue the debt after certian period?

There is Statute of Limitations. It varies by state. You'll have to figure it out for your state.

[Focus2069]

they can pursue the debt for as long as they want.

it can only stay on your credit report for 7-7.5 years after the date of last payment or default.

but, depending on your states statute of limitations, they may not have any legal recourse to come after you.

Find out what your states SOL is, and if it is outside that timeframe, tell them *cough*politely*cough* what they can do with their legally uncollectable debt.

*EDIT*

STATE: SOUTH DAKOTA

INTEREST RATE

Legal: 12%

Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Sale of Goods: 4

Written Contract: 6

Domestic Judgment: 20

Foreign Judgment: 10

you should be ok...send them a cease and disist letter.

[paradox3696]

Thanks for the info.

To answer your questions, I am not even sure which state is the "effective" state to determine the status of statue of limitation. This is because I worked in Wisconsin and Minnesota over the years and I believe I applied credit cards in both states.

Follow up to get a clearer clarification. Suppose that the credit card debt has already passed the statue of limitation period and assuming that they did get a judgement for garnishing my wages before the statue of limitation expired. Are they still able to pursue the payment? In other words, are the debtors still be liable to debt under garnishment even though if it has been ages? say like 10+ years.

Thanks

[paradox3696]

STATE: SOUTH DAKOTA

INTEREST RATE

Legal: 12%

Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Sale of Goods: 4

Written Contract: 6

Domestic Judgment: 20

Foreign Judgment: 10

you should be ok...send them a cease and disist letter.

[swirlgirl]

If theere was judgment issued before the SOL, then yes, they can legally collect for the entire period until the judgment SOL expires. Also, some states allow judgments to be renewed upon petition from the plaintiff.

Don't confuse the reporting period with SOL. The debt may fall off your CR after 7 years, but you'll still owe the money.

[flacorps]

Was the judgment in the state where you're living now?

If it wasnt from your current state, was it domesticated to your state under the UEFJA?

[paradox3696]

Was the judgment in the state where you're living now?

If it wasnt from your current state, was it domesticated to your state under the UEFJA?

No the judgement was not in the state where I m living now.

I m sorry what is UEFJA?

[Focus2069]

wait...hold on..

did they actually get a judgement against you? or is it just an old credit card debt?

if there is no judgement filed against you, then its just a junk debt buyer trying to collect on an uncollectable debt.

if there is a judgement filed against you, then that is much more serious. Have you pulled your credit reports to see if there is a judgement on there?

[paradox3696]

it has been so many years and I was off employment for few years doing odd jobs on and off. And i guess that is why CA has not been able to collect anything from me all these years. I have a regular job now and just wonder if they will find out and start garnishing my wage again.

I am just too afraid to touch on the credit report because I do not want any activities to be reflected on my Credit report.

Thanks for the respond

[Focus2069]

pulling your own credit reports has no adverse affect on your credit score.

you need to find out if there was ever a judgement filed against you....that makes all the difference in the world right now.

[paradox3696]

I shall follow your advise pal. Thanks to you and all for your responds.

[flacorps]

You can't pull your credit report without updating your address with the CRAs.

That could be a problem if you're trying to stay off creditors' radars. And for pity's sake don't apply for any new credit ... listing your current employer on the app would get picked up by the CRA and would give a creditor who wanted to garnish a red arrow pointing right to where to do it.

I'm not saying that pulling your own Lexis/Nexis or Choicepoint report would be a whole lot safer, but it's not where people usually look, and I don't believe those two sell the same sorts of solutions for skip tracers that the CRAs do (I may be wrong, and if someone says so I'll stand corrected).

The absolutely safe way to do it would be to check directly with the courthouses and county recording bureaus involved.

[flacorps]

I m sorry what is UEFJA?

You will get help here, not spoon-feeding.

Google and Wikipedia are both your friend in this circumstance.

[Robert Nashville/Savannah]

"garnish your wage again"???

Before you can have any idea what action to take or even if you need to take action, you need information.

Pull all three major credit reports and see what is there...if there is a jusgment listed then you'll have a better idea what you are dealing with...you may also want to do a lexis/nexis search.

You do have reason to be concerned but not to panic...one you have a settled job/life it does make it easier for a creditor who is looking for you to find you.

Once you have some info, people here will be in a better position to help you.

[flacorps]

Pull all three major credit reports and see what is there...if there is a jusgment listed then you'll have a better idea what you are dealing with...you may also want to do a lexis/nexis search.

I suggested to hold up on those options and get info directly from the courts that were involved ... the intent being to avoid doing anything (like furnishing a current address to a CRA) that would allow them to provide a creditor with new info (the "reappear" service, "collection triggers" and what-have-you). http://www.experian.com/products/collection_triggers.html

When you've been in silent running mode, it's better to just peek with the periscope than have the whole conning tower emerge from the waves.

[paradox3696]

thanks again for all your sugegstions folks.

I guess I have no choice but to take the risk of getting a report from CRA. Otherwise, I really dont know where to start and how to deal with it.

Thanks all again. Lots of frenly and helpful people who are willing to help.

[flacorps]

I guess I have no choice but to take the risk of getting a report from CRA. Otherwise, I really dont know where to start and how to deal with it.

You have a choice. Many courts and clerk-recorders are online. You know what cities you've lived in. It's easy to find out what counties those cities are in even if you don't remember what counties they were. From there you can either hit the court clerk and clerk/recorder's websites, or you can sometimes just call them on the phone and ask them to check their indexes.

If you hit a brick wall someplace, pulling your own Lexis-Nexis report would be both safer (I don't believe they sell a "collection triggers" type service) and more accurate (judgments won't drop off after 7 years, and that's important because your CRA report might look clear, but there might be a valid, existing and enforceable judgment still lurking, and the judgment creditor could be a subscriber to a collection triggers-type product with that particular CRA). Also, it's a flat out fact that many judgments just don't get picked up by one or even all of the CRAs, while Lexis-Nexis seems much better at that.

So try it the hard way from the horses' mouths first, then try Lexis/Nexis and or Choicepoint, and then if it looks safe you can pull your own CRA reports, knowing that it will cause some creditors to emerge from the woodwork but that they won't be within SOL for filing lawsuits.