Why is it that once a statute of limitations runs on credit, that it can still show up on credit report?

Question

Since they can no longer legally prove the debt, shouldn't it then be considered invalid?

Answer 1

There are collection agencies that try to reopen your credit problems after they bought the rights of collection from the original holder. They realize that if they can scare or trick you into paying anything (or even just getting into a conversation of the subject) then they can consider the debt to be a new one and try to squeeze more out of you on that expired debt.

If you know the statute has run out don't even answer those "vampire" debt collectors.

Answer 2

The Statute of Limitations pertains to how long they have  to collect/sue you for the debt.

Find your SOL here:

http://www.creditinfocenter.com/rebuild/...

The time a negative can be reported on your credit reports is 7 years, even if you pay it.  Once it's negative, it's very hard to come off your report.

You could try to bargain with a "pay to delete" agreement.

Answer 3

just Google "statute of limitations on bad credit" and visit some sites...I went to the very first one.

Essentially, the companies have a certain amount of time to try to collect, which varies by state! If they decide to sue you, and they renew their suit against you within the limits set by the state in which the debt was incurred, they have a case against you FOREVER, it seems.

They can 'prove' their debt forever, because they have a 'paper trail' that proves it.

And it's a 'lien,' not a 'lean.'

Check out some sites and inform yourself. You can also get consumer information about credit concerns from your state's Attorney General office, since the credit card, bank and other creditors/companies have to follow State rules.

You should also learn how to handle any phone calls or letters from creditors and collection agencies: they can't call you early in the morning or late at night, they can't call you at work IF your employer doesn't allow you to be receive calls at work; they can't tell your neighbors, co-workers, et al, about your debts, etc.

Answer 4

Your credit report is a history of how you manage your credit.  Derogatory items stay for 7-1/2 years from the date of first deficiency.

The Statute of Limitations (SOL) is the timeframe to bring lawsuit.  The two are completely different things.

In any case, even if a debt is beyond the SOL and the reporting period, collectors can still try to collect the debt.  They can't re-age the debt back on your credit file and probably wouldn't win in court, but they can still hound you for payment.

Answer 5

Late breakfast is correct. The SOL and the 7 year reporting period are totally seperate.

And Private, to get a lien they would need to have sued and won a judgement.

Answer 6

Rascal the SOL has nothing to do with your actual credit report. If you actually pay the debt and are an amateur at this it will be re reported for another 7 years also.

I own a debt/credit consultation business. If you would like some free advice or for me to look into your situation a bit more give me an email at

[e-mail].

I am always willing to help and give a bit of advice since this is what i do for a living

My name is Aaron

Answer 7

They probably already have a "lean" on your house, so when

you go to sell it, they get they're money first.

There is no statute of limitations on that lean, and there is the

"interest." <}:-})

Answer 8

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Answer 9

The statute of limitations limits how long they have to file suit.  If they haven't sued you, that's their decision.  It doesn't mean you don't owe the money and aren't a deadbeat.