Does the credit card debt restart if a different agencies send letters about your debt even after 6 years?
XCALIBUR asked:
I mean i heard after 6 years or so your credit card debt is written off, but if during those 6 years you get letters from different solictors, agencies etc does this include the 6 years or is it restarted from the beggining when to a another agency?
Sara
I mean i heard after 6 years or so your credit card debt is written off, but if during those 6 years you get letters from different solictors, agencies etc does this include the 6 years or is it restarted from the beggining when to a another agency?
Sara
Comments
Comment from StephenWeinstein
Time November 13, 2009 at 8:45 pm
First, six years is wrong. On credit reports, unpaid credit card debt lasts for seven years. The statute of limitations, which pertains to someone filing a lawsuit against you, not to your credit report, is usually less, but varies by state.
Second, the time periods are not supposed to restart. It sometimes happens anyway. After 7 years, check your credit report and dispute anything over 7 years old.
Comment from SPIFIMAN1
Time November 13, 2009 at 3:39 pm
I’m not sure if you are asking about the reporting time line or the statute of limitations so I will address both.
Derogatory accounts show on your credit report for 7-years from the date of first delinquency. It is illegal to re-age debts.
The statute of limitations however can be restarted if you pay on a old debt or in some States be even admitting that the debt is yours.