 I lost my bank card!!? |
| Ands I write my pin on the front of it so I don't forget it, what do I do? :(... |
|
 Repairing my bad credit? |
| I got 2 credit cards when I was 18. I had them both for about a year and was very good with payments, never one late, then I had some tough times at my job and missed some payments and then all the ... |
|
 Student loans and credit? |
| I'm 20 y/o, have 3 credit cards all in good standing, pay above the minimum every month and ahead of time...I've had 2 of the cards for over a year and one since Dec. 2006..I don't ... |
|
 Paper or plastic? (nothing to do with bags).? |
| Which one do you use more of, you cash or your credit card. Which one is more safe? Which one is more easy to use? I use my debit card everywhere I go, but should I start using my cash now. What do ... |
|
 I need a loan!!!? |
| i need a personal loan for atleast $2500.00 and i was wondering if or where i can get the loan without a co-signer and no credit!i have been working for about 1 and a half and only get paid $6.50 and ... |
|
 Credit card question? |
| Hi there. I'm 18 and fresh out of high school with my first college semester starting this september. I'm interested in getting a credit card, but is it possible to get one without ... |
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 Will a credit card payment that was 3 days late effect my credit score? |
| My boyfriend is freaking about because his credit card payment was 3 days late (and the one time it was late before, his credit went down 100 points! We just recently checked his report). Will this ... |
|
 Why do people type so much to ansure one question? |
| i see some people who type a hole book in 1 ansure but what is the use it takes so much time and ... |
|
 How do you get a car with bad credit? |
| I am trying to purchase a car my credit is pretty low...I tried and I couldn't even get a $20,000 car, the bank was only willing to give me $8,000. The reason is I have a charge off on my credit ... |
|
 How can i build credit fast? |
| I opened a bank account on th 26th of november on my birthday and i now got a debit card and credit card on the way. I wanna get good credit fast to drop a $500 deposit at AT&T. How long would ... |
|
 Will asking for a credit report lower my credit score? |
and what is a good score?
Additional Details
how much more will it go down?... |
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 Question about debt collector in concern with my wife? |
| I recived a call from a bill collector "very nasty" claiming he works at a law office and here to collect a debt for a Discover card. I told him i dont know anything about this, he ... |
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 How can I pay off all of this debt? |
Just a run down on our financial scenario: (balances)
Card 1: $507.53
Card 2: $4,575
Card 3: 9,331.17
Card 4: 5,388.50
Card 5: 621.63
Card 6: 2,490.65
This ... |
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Dan | Is it true that if you avoid creditors for 7 years the debt is written off? |
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sacayouette
 |
Yes. It is the law, but not all debt goes off in seven years, so don't count on it. The law is like this to avoid over filling the bankruptcy courts with people that run into trouble paying their bills.
Another problem is until the seven years are up your credit will be shot. Get a copy of your credit report from one the three major agencies. Get one from each every 4 months on a rotating basis and it is free, (you can get a free copy from each once per year.) If you do this right you can keep an eye out for fraud or wrong information 3 times a year at no cost.
Clear up your problem debt one bill at a time, the newest ones first. It is well worth the effort. |
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katclarkeukk
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this is what someone told me when i asked a similar question, in fact most of my answers were very different from the ones you have been given, I have been in debt and most of it seems to have been written off over time, but then I have moved about a lot. If you are staying in the same place, apply for any store cards or go on the voters role then they will probably catch up with you.
"It gets 6 years before your credit record is wipes. As for the creditor if they fail to reach you to discuss a payment schedule or you do not make a payment it is likely that you will have your debt written off as a bad debt (tax advantages for the company) after three years although this can be as long as six years. Some companies want the debt written off early. If you do not plan to move and haven't paid it is likely that you will have a caller at the door at some point. By statute they can chase you for payment, if you start to pay then don't then they will continue to press their claims especially if you haave property after three years if you have made no contact with your creditor then they will probably write it off. " |
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ASHLEY
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The creditors will need to file a claim with the courts within 3 years of the last payment towards the debt. Once 3 years have passed since you have made a payment, they can no longer pursue it through the Court.
If they have made a claim with the Court you will have to pay eventually |
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sibs
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no unfrotunately not...you will have to pay one way or another..mind don't know idf this still applies however back in the good old days ..if you offered the lowest form of silver coinage to the debtor and they refused ..you rdebt should be wiped (wouldn't that be nice |
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Caffeine Fiend
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Under British law, yes there is a time limit where if no attempt has been made to reclaim a debt it is no longer valid. I cant recall the lenght of time though.
Of course, a letter, telephone call or visit nullifies that, because it is an attempt to reclaim the debt.
If you want to be certain, most solicitor firms give free legal advice in a law shop environment. |
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markmcd22
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as long as they don't try to claim the money from you then after a period of 5 years you don't have to pay it cause i owed a company money but they didn't get in touch with me so after the 5 years i didn't have to pay them a penny. |
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Tabbyfur aka patchy puss
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6 years but if they contact you at all and they can prove it. The time extends. |
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FreeThinker
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No. Its 7 years after filing and declaring bankruptcy (and being allowed to declare it) that bad credit is wiped off of your report after 7 years. |
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alatoruk
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no - just after tha length of timee it doesnt appear on your credit history anymore, unless you have subsequently made arrangements to apy, or they get a court order to force you or 101 other reasons to keep it active. either way you will still owe the money and they can legally come after you for it. if of course you borrowed it from Big Tony down the road, he will probably come after you "illegally" for it, and it will be parts of your body that are written off, not the debt. |
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bella_4624_19
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after 7 years the tradeline will come off your credit report but that does not mean they have to stop trying to collect the money. |
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SONIA
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Yes it is true it says so in the following link somewhere http://www.citizensadvice.org.uk/index/campaigns/soc.../debt-collection-guidance |
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bettyboop
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no, your account just keeps being sold, or just ends up on your credit report which brings down your credit score.you can always negotiate with your creditors to pay a lower amount and ask them to report it to trw. |
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beauchambers1981
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its 6 years in the UK |
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scrambulls
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Errrrm as far as I know no statute of limitations applies anywhere in the world for this offence. Be careful even if there was such a time limit they can still send the heavies round to break your legs!
Or legally reposess everything 'cept your clothes and bed.
Where would you be without your computer?
Be a good citizen if you cant pay go bankfrupt at least the law is then on your side. |
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blustaller@yahoo.com
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no that wont happen they will pick your *** up and take you away |
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wh
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This thread is incredibly full of awful, incorrect information given by people that think they know something that they do not. |
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