Once debt has expired can it be sold again over and over?

Question

i have been getting letters and calls on old debt 7 plus years how can they try to collect and keeping selling over and over

Answer 1

They can and do regularly sell it.  However that doesn't mean you have to pay.

Every state has a statute of limitations on debt (including MS and WI that someone just wrote don't).  What that means is after you made your last payment (or contracted the debt if you never made a payment), there is a time limit on how much time you can be sued for that debt.  Depending on the type of debt and the state where you signed the contract and the state where you live, that is anywhere from three to fifteen years.  If they pressure you into making a payment, the clock starts over.  See the attached chart for your state and what type of debt it's from.  Chances are you can tell them you aren't paying it.

This is different than the 7 years a debt stays on your credit report.  However, if you make a payment even after the 7 years has expired it can go back on your credit report until 7 years from last payment.

Answer 2

it depends what state you live in.

Answer 3

It can be sold over and over. If it's charged off and you make a payment, the SOL does not start over again. If the account was 4 months past due and you got it up to date, then the SOL would start all over again. Do not agree to anything. If you get it by mail, throw it out. If they call, just hang up

Answer 4

With the exception of 2 states (MS &WI) an unpaid debt is collectible forever.  Once SOL expires, you have an affirmative defense if sued but they can stilll attempt to collect.

Answer 5

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