I Have An Old Debt, Was Served With Papers For Court. This Debt Was Made In 1997. What To Do Now?
I am 71 years old, I paid on this credit card, as long as I could and the interest and limit fees were out weighing any amount I paid. So I stopped paying. Now , I am wondering what to do.
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In some states, such as NC, there is a limitation on how many years a collector can try to collect for an old debt. Most places have a 7 year policy and some longer than that. Lots of times the collectors will begin to call again after leaving you at peace for some time. They use one final effort to get their money, and if it isn't paid by then it normally just falls off your credit report. You should probably consult someone with debt consolidation. They may be able to help you answer your question.
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Find out the statute of limitations in your area, if you haven't paid them in a long time maybe the statute of limitations has run out and could be in your favor.
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