Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Jun 2005
    Location
    kentucky
    Posts
    12

    Default credit cards from five years ago

    8)
    Hello
    I am trying very hard to deal with all my old debt, and I have been told that any debts that were from five years or more should removed. There are certain companies that are putting the debts as new, since they have just bought these debts. Is this legal, the way it is done? Also, if the SOL is correct, (in KY credit card debt is five years) when does this date begin? I have been told the last date of payment.
    If these prove to be under SOL, will these have to be removed or do I still have to go to court for them?

    thank you
    Lisa C

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Old Debts On Credit Report

    If you believe that debts are no longer collectable due to the statute of limitations, and collection agencies are nonetheless seeking to collect on them, pursue your rights under the FDCPA. However, they can often keep reporting the delinquent debt over a seven year period, even if the statute of limitations is shorter, pursuant to the Fair Credit Reporting Act (FCRA).

    For credit card debt, the statute usually starts to run on the date of the last purchase on the account, the date of the last payment, or the due date of the unpaid bill issued subsequent to the last payment, whichever is later.

    1. Sponsored Links
       

Similar Threads

  1. Credit Reports: Can Old Debts Reappear on Your Credit Report
    By lowcust12 in forum Personal Finance And Investment Law
    Replies: 2
    Last Post: 06-09-2010, 06:10 PM
  2. Debt Collectors: Credit Card Debts
    By alisasimon in forum Debts and Collections
    Replies: 2
    Last Post: 07-12-2009, 12:07 PM
  3. Credit Reports: Getting Unverified Debts Off Of a Credit Report
    By pharmboyrx in forum Personal Finance And Investment Law
    Replies: 2
    Last Post: 11-16-2007, 06:19 PM
  4. Property Division: Credit Card Debts in Divorce
    By Financially Frustrated in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 06-14-2006, 02:32 PM
  5. Credit Reports: Judgment debts on a credit report
    By eddie in forum Personal Finance And Investment Law
    Replies: 1
    Last Post: 02-15-2006, 02:09 PM
 
 
Sponsored Links

Legal Help, Information and Resources