erase credit card debt
What happens to a debt after it is erased from you credit report?
I was once a typical and stupid college freshman who was taken in by the credit card companies that were advertising all over campus. It got to a point where I had seven different credit cards that were all maxed out. I was able to eventually take care of some of them, but others I had either lost track of or just could not afford to pay at the time. Two of these past credit card debts are now over seven years old and are no longer on my credit report, but they have just recently sent me a collection notice. I cannot afford to pay these now, I just finished major repairs on a car that we ended up trading in and my mom cosigned a loan for a new car that I desperately needed. PLEASE HELP! Thank you so much.
The debt NEVER goes away until you pay it. But you do have certain rights under the FCRA(Fair Credit Reporting Act). You are probably being contacted by a Collection Agency who hopes you don’t know any of your rights and pays them the money.
Since you are past the 7 years it can no longer appear on your credit report. You are also past the Statute of Limitations, so they can no longer take any legal actions to get you to pay.
You should send them a letter stating that it is past the Statute of Limitations and they are no longer to contact you again. You should also pull your credit report. If it appears on there you must send a dispute to the Credit Reporting Company stating that it needs to be removed.
