Does the credit card debt restart if a different agencies send letters about your debt even after 6 years?
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?
Tags: 6 Years, Credit Card Debt, Credit Debt
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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.
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.