Debt Collectors: Will You Be Sued Over Old Debt? - The Credit Pros
MP3•Episode home
Manage episode 433022062 series 3576016
Content provided by The Credit Pros. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Credit Pros or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Debt collectors have a limited time to sue for unpaid debts, governed by state laws, after which debts become 'time-barred.' Credit reporting agencies must remove most derogatory accounts after 7 years, as mandated by the FCRA. To avoid lawsuits over old debts, it's best to pay them off, but professional advice can help if you're treated unfairly or charged excessive fees. Collection agencies can damage your credit score but cannot add unauthorized fees to the debt.
…
continue reading
784 episodes