When You Have Unpaid Debt for 7 Years

When you have unpaid debt for 7 years. There are a few things that happen.

First is one in the Great Credit scoring Act which says that derogatory accounts will show for 7-years from the date of first delinquency.

The second reason is the statute of limitations which varies from State to mention and by what type of financial debt you are talking about.

This is the legal time that folks can drag into court in court and get a judgment. Once the S. O. L. has passed you can still be sued but all you have to do is demonstrate court that the S. O. L. has expired and the case will be sacked.

I have posted a hyperlink so you can look up your State at the bottom.

There is no time limit how long people can try to get you to pay. Never admit that a debt is yours and not pay a dime on the one that is past the S.O. L. because this will restart the S. O. L.