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Your mother in law was told that If she doesnt pay her creditors that debt would go away after seven years is that true? |
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Sorry but that is not true.. although the debt may disappear from her credit file after seven years(negative statements are usually removed by the 3 major agencies after seven years).. The original creditor or one of its agents(a collection agency or debt purchasing agent) has up to her states statute of limitations to bring action to collect the debt.. anywhere from 3- 15 years
First answer by ID1074558083. Last edit by ID1074558083. Question popularity: 28 [recommend question]
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