How Long Can a Creditor Attempt to Collect a Debt

If you have old debts that you haven’t been able to pay off you’re probably wondering how long can a creditor attempt to collect a debt? That depends on where you are, where the debt was incurred and what your state statute of limitations on debt collection is. But it can also depend on the tenacity of the debt collector.

When you owe a debt, a debt collector will try to collect that money from you in as many ways as possible. The debt can even be sold from collection agency to another collection agency and each one will start collection proceedings anew. The first thing a debt collector will do is send you a letter in the mail stating that if they don’t hear from you typically within 30 days they’ll assume the debt is correct and begin collection proceedings.

What To Do If Identity Theft Ruins Your Credit

Ken had everything going for him, a great job, no debt, an excellent credit score… or so he thought. In fact, he felt with everything going right for him financially it was time to look into owning his own place. He sat down with a Realtor to figure out how much of a home he could qualify for and was shocked to learn that the answer was ZERO. His credit score was not what he thought it was… in fact, on his credit report, there were loans and credit cards that he did not even apply for that put him thousands of dollars in debt. After careful and diligent research, Ken came to the understanding that he was the victim of identity theft.

Credit Card Facts You Should Know

Credit cards are very handy and can help you in times of financial emergency. However, credit cards are seldom used wisely. And this is where the trouble starts. It is important to know certain credit facts so that you can handle your credit better. If you have ever taken out a mortgage or accepted credit cards, you are bound to have a credit file. Whatever you do financially, gets recorded in your credit report. So, you cannot afford to spoil your credit rating. Your credit rating is important as it determines your eligibility for availing financial benefits in future.