Ask Experts Questions for FREE Help !
Ask
    george2007's Avatar
    george2007 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 20, 2007, 02:43 PM
    Statuate of Limitations Indiana
    What is the statuate of limitations for collecting credit card debt in Indiana, and what is the starting date?
    shelley7180's Avatar
    shelley7180 Posts: 63, Reputation: 4
    Junior Member
    		  
    #2

    Feb 20, 2007, 02:53 PM
    To the best of my knowledge there isn't one. You owe the debt, so you must eventually pay the debt. (Even if it means it comes out of your estate when you die.) Most credit card companies are willing to settle for an amount that is less than you owe. The negative marks will stay on your credit report for up to 7 years after you pay off the debt. If you settle your credit report will say something like "settlement received on this account".
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #3

    Feb 20, 2007, 03:14 PM
    Hello george:

    Shelly is right. If you owe a debt, you owe it forever. There is, however, a statute of limitations on how long they have to sue you. That's more than likely, 3 years.

    excon
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Trouble in Indiana [ 1 Answers ]

I have been with my boyfriend for 6 years and when his son was born we got custody of him when he was 1 month old. The child's mother was not in his life consistenly and has moved to another state and had 2 more children. She gave up the second child and kept the third. My question is her first son...

Statuate of limitations [ 2 Answers ]

My husband here in phoenix is being held on a failure to appear charge in Indiana. He paid the fines and went through the program but the attorney did not appear for the pre trial conference. How do we keep the extradition from going through? Is there a statute of limitations on this?:confused:

View more questions Search