Archive for January, 2009

How old does a debt have to be, before you are no longer legally bound to pay it?

Thursday, January 29th, 2009

S L asked: I remember hearing once that a debt after a certain amount of years, is moot. Does it depend on the state where the debt occurred or you current state of residence? I heard that collection agencies that specialize in buying old debts, to try and collect on, ...

How do I know when the debt was incurred?

Tuesday, January 27th, 2009

startingallover asked: I have a collection from a finance company. That collection is listed as sold on my credit file. When the company sells a debt, does that date of the statute of limitation restart when the buying company recieves, or is it the original date. Basically, will it be ...

What is the process to sue debt collectors?

Monday, January 26th, 2009

RE-AGENT asked: A relative who have never lived in my household, not even a day, apparently have outstanding debts. Now the debt collectors have been calling my phone and leaving messages. A couple of times, they were told to stop calling my number as I don't know the whereabouts of ...