can you still owe a debth after 16 yrs?
96020
Yes, it will be removed from your credit report after the statute of limitiations expires, but even if you die they will get the money from your estate.
1098728
The statute of limitations has run on that debt.  What you can do is contact the person and make them promise to pay anyway, and then another year will run from the subsequent promise.  You must sue before a year's time. Get your friend to agree to pay you back the money owed plus interest and fees.  Even is he/she makes a fake promise just to get you off their back, the courts will uphold.
185456
Payment to the agencies usually depends on the "ageing" of the debt - longer the outstanding, higher the percentage demanded by the agency.\nFor 'current' collection - usually it is 1%-2%. For dues older than 90 days (which is almost written off as bad debts)-can go upto 10%.
822474
They can write off a debt after unsuccessful "reasonable collection efforts" are exhausted - usually 90 days. I don't recall any laws stating any time period but only reasonable efforts to collect.\n\nLook in the agreement, it may have the proof you are looking for. Some creditors have their own criteria for this and document it in the agreement.\n\nHave you tried to negotiate it with them? That is pretty cold to do that especially when you have proof you actually moved.\n\nGood luck\n\n================
209622
it really depends on how the interest is compounded but most likely about 16 years
679994
Record retention depends on the law of land and differ from country to country and type of the record. So you have to check out in your country whether these records are required to be kept for so long. \n\nOn debt, there is law of limitation which states that someone cannot claim debt after certain period if you have not acknowledged that for specific period. For example in India it is 3 years for private loans so the company cannot rely on any legal document signed by more three years back.\n\nConsidering all this you should not pay and dispute the bill. Onus is on them to prove the bill.
279048
You just get an extension through community corrections.  I owe 20 hours and have done for about 6 years, I keep getting a 12 month extension.  I even got some of my hours turned into cash fines and now pay it off at $20 a fortnight through SPER (QLD)
945804
No. Each state has a statute of limitations, it is usually 6-7 years depending on where you live. For example, in NY if you incurred a debt 1/1/2000 and never paid on the account, the SOL would be up 6 years later, on 1/1/2006. Usually it starts from the date of first delinquency. A company cannot collect, you do not have to pay it, and a court will throw out a judgment that is outside the SOL.\n\nUnder the FCRA, they also cannot list a debt on your credit report that is over 7 years old, regardless of the SOL. If you see this on your report, dispute as "the 7 year reporting period under the FCRA has expired". The Fair Credit Reporting Act does not allow bad debts to be listed for more than 7 years, except bankruptcy which can be listed for 10.\n\nBy the way, do not, and I mean DO NOT under any circumstances pay this debt if it is over 9 years old. It will reset the SOL, and also the 7 yr reporting period, which means it can be listed for another 7 years on your credit report. One of the worst mistakes people make is they think paying old debts will help their credit. It won't! Making a payment causes the Date of Last Activity for the account to be updated to this month, instead of 9 years ago, and your credit score will plummet.
731806
The statute of limitations for a charged off credit card depends on the state in which you originated the debt.\n\nPlease refer to the hyperlink attached below to find out the appropriate statute of limitations for your specific situation.\n\nGood luck and 10 pts please.
309783
depends on the debt...child support etc yes
1108905
You can't get rid of debts simply by waiting. However you can go ahead and file bankruptcy, and that will allow you to give only what you have left and close off your debts. Then you can start over.\n\nA statute (with a T) of limitations only applies to certain lesser crimes, to prevent someone from coming back 20 years later and prosecuting you for something you did in your youth - when evidence is hard to find and it's luck as to who has more evidence. Debt is not a crime, though, it's just a condition. So statute of limitations doesn't apply.
1176383
Anything that is past the statute of limitations for your state of residence is uncollectible.  It will fall off your credit record at 7 years from the date of the last activity; contrary to what another poster said it does NOT stay there until paid + 7 years!\n\nIf you get feeling guilty and contact the creditor trying to "make things right" they will re-age your debt (this IS legal!) and start collection efforts all over again.  It will show up as a chargeoff with recent activity.\n\nIt's a dirty little secret that creditors sell of old chargeoffs to collection firms for as little as less than a penny on the dollar.  This is great for the collection firms, as if they get a 10% response on any of their efforts, they make a TON of money!  Imagine that you buy a $1 million in chargeoffs for $5,000.00.  If you get 10% of the debtors feeling guilt enough to pay off their debt you just made a cool $95,000.00 profit.  These firms buy these accounts in blocks of tens or even hundreds of millions of dollars.  Do the math, it's an EXTREMELY lucrative venture!\n\nYeah, you can have both the original debt AND the collection agency's data on your record at the same time.  Once the statute has expired, it's best to leave sleeping dogs lie.  If they contact you by mail, just trash it.  If they call you, just hang up.  If you say anything at all, say, "Don't contact me again." and then hang up.\n\nIf your "moral compass" is giving you fits, make an equivalent charitable donation to a worthy cause and don't deduct it on your taxes.
41342
Maybe, it depends on what kind of debt it is.  There are a number of different time frames for items to be removed from your credit report.  Inquiries remain on your credit report for 2 years. Delinquencies, collection accounts, charge-off accounts, chapter seven bankruptcy, and paid tax liens remain on your credit report for 7 years. Chapter thirteen bankruptcy remains on your credit report for 10 years. Unpaid tax liens remain on your credit report for 15 years. This information came directly from the credit bureau.  If you feel the information on your credit report is too old to still be reported, you should file a dispute with the credit bureau directly.
654276
yes. now collecting it, could be a trick. unless you signed a formal document stating HOW it will be paid.\n\nGet a Lawyer. I've never heard of a person going to a superior court for contempt in small claims.\n\nIn some cases, there are statues of limitations. 16 years is a long time to be worried about it now.\n\n\nMost reasonable Judges would see this. Did you get a letter from Superior Court?  or someone blowing smoke about taking you there?\n This I would have to SEE, to believe.\n\n.
855268
Chrissy, you don't know what you are talking about.\n\nWhat type of debt is this?  Contracts are 6 years....but if this is an oral or credit card debt it's only 3 years.\n\nLook at the link below, as it also gives you the actual statutes from the law.
296951
"Technically", just the act of using a company Debt Service Company does not hurt your debt rating.  However if they "negotiate" a special payoff amount of say a credit card debt then, yes the "Charged Off" part of the debt will show up as such on your credit report.  How long it stays on your credit report varies from State to State, with the average being about 7 years.
540223
Any money that is left over after paying all of your debts will be refunded to you.  Now also, if you owe money for like "Child Support", they can't hold your refund for any interest that is owed after the principal amount has been paid.  \nGood luck.