Written by Credit Answers on May 14th, 2010
I have a couple of negative items on my credit report that are approx 6 years old, I cannot pay them. I have noticed that one collection agency will "sell" the debt to another agency. Does that affect the dropoff date? Also, do items really Drop off and are gone or do they just not count against you anymore? These credit issues are really ruining my life and everything just keeps getting worse and worse and worse.
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Tags: 6 Years, credit issues, Credit Report
Written by Credit Answers on May 10th, 2010
I live in the State of Georgia and am being sued over an old credit card that I defaulted on. It has been more than 4 years but less than 6 years since the date of default, so depending on whether credit card debt is considered an open account or a written contract in the State of Georgia, the Statute of Limitations may or may not apply. The Staute of Limitations is 4 years for open accounts and 6 years for written contracts. Does anyone know for certain which type applies for credit card debt in Georgia? The account is with Citibank MasterCard and was opened in the late 80’s or early 90’s. Thanks.
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Tags: 6 Years, Citibank Mastercard, Contracts, Credit Card Debt, Open Accounts, State Of Georgia, Statute Of Limitations, Staute Of Limitations
Written by Credit Answers on August 4th, 2009
Hope asked:
My brother who has no credit history, needs a car and is trying to get it with a personal loan for a used car as most banks won’t finance a used car more than 6 years old. Can this be done by opening a credit card as a start?
P.J. below isn’t reading the question properly. My brother doesn’t have a loan on a used car. He is trying to get one. Bank don’t do financing on used cars over 6 years old. Hello P.J.?
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Tags: 6 Years, Brother, Cars, Credit Card, Establish Credit, Finance Car
Written by Credit Answers on December 19th, 2008
Stephen S asked:
An old credit card that defaulted on it has been more than years since the account is considered an open account or written contracts does anyone know for certain which type applies for certain which type applies for credit card debt is considered an old credit card debt in the state of limitations is.
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Tags: 6 Years, Citibank Mastercard, Contracts, Credit Card Debt, Credit Debt, Open Accounts, State Of Georgia, Statute Of Limitations, Staute Of Limitations
