By Ben Lou
Q: A collector keeps trying to collect on a debt longer than 7 years. How do I get rid of them?
A: If you pay them or settle it, that would be one way of getting rid of the debt and them at the same time.
There are plenty of misunderstandings about how long someone can try to collect on a debt. The answer is there is no time constraints regarding collecting a debt. The most common misunderstanding is that after seven years, you no longer owe the debt. The statute of limitations begins on the first day you miss a debt payment. Collections typically last to seven years. A debt collector is legally entitled to collect a debt even after the statute of limitations of seven years has run out. However, the debt collector is breaking the law if they sue you over the debt or even threatens to sue you.
The statute of limitation does not eliminate the debt. The only remedy it does is limit judicial actions available to the creditor or collection agencies after a certain period of time and they have to un-list the negative debt from your credit report. A debt collector may still seek payment of an old debt even though the law cannot force you to pay it. But in most cases, they may simply just give up when they feel that the debt has become uncollectible. And they may choose not to do business with you in the future until the debt is paid or settled.
This is why a debt will always be a debt until it is rid of.
Ating lesson, Utang na gustong kalimutan, sa balikat ay laging pasan.
If you need help in getting out of debt, call Debt Aid Consulting International. We do not use call centers which keeps your information safe. We have a new program that reconstruct debts for half of what you would pay our competitors. We also provide legal assistance that keeps collectors away. We take Federal Credit Unions, Payday loans and high interest personal loans in our program too. This is exclusively available for Debt Aid Consulting clients. None of our competitors provide this program. You are well protected.
We only provide Federal Trade Commission compliant programs. Go with Debt Aid Consulting!
Do not fall for marketing gimmicks saying that they have the right program for you. Most marketing companies only have one program and will enroll you in that program whether it fits you or not. So beware!
Ben Lou at your service! I have over 35 years of financial experience. If you would like sound financial advice, call us at Debt Aid Consulting International. We do not use call centers. No one has the right to put your information at risk.
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Tawag na po sa 1-888-341-5234 at tutulungan po namin kayo.
Itama po natin ang mali!