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deenessie
Nov 29, 2010, 05:22 PM
Debt expires. Satatue of limitations legally has to take it off your record. So what happens next with the debt. As long as you have your records about the originationof the debt... tehn legally if cannot go back on your credit re cord...

ScottGem
Nov 29, 2010, 08:03 PM
First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

A debt NEVER expires. Not sure where you got that idea. SOL has nothing to do with taking it off your record. It only refers to the time limits when the creditor can pursue legal actions. Credit bureaus are subject to the rule that they have to remove an item after 7 years, but there are ways for the creditor to keep it on longer.

Fr_Chuck
Nov 29, 2010, 08:47 PM
Agreed, first if it is a valid debt, they may try and collect it for the rest of your life, ( and your estate after you die)
So you will always owe the debt if not paid.

The issue after that, is that the SOL merely is the time they are allowed to file in court for a judgement.

The SOL has nothing to dow ith the time frame to take it off your credit report,