Too late to write off debt?

Hi there… please help me solve this!! My husband has recently been contacted about a debt which is from 1990s. My husband took a wrong step as he made a couple of tiny payments to the. I know he shouldn’t have made those payments. But what I need to clarify is that is too late to get the debt written off. We just came to know that we could have done this had he avoided making that payment! Please help!! Any help is appreciated.

2 Answers

If you husband made payments, he has more than likely restarted the SOL period.  What state are you in?

 

FYI...the term "written off" is an accounting term.  Debts are generally written off the creditors books 6-9 months after payments stop.  The debt is still collectable ...

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

Your husband can contact with the creditor and negotiate with them. As the SOL period has expired, so they can’t take any legal action against your husband. Your husband may try to arrange a better payment plan with them. Moreover, since 7 years has passed, so this account has been removed from your husband's credit report.


Write Your Answer

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
What is the sum of 6 and 0


Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV


Page loaded in 0.881 seconds.