Can a Credit Card Company Pursue Debt After 7 Years?

Next Video:
What Is a Consolidation Loan?....5

A credit card company cannot pursue debt after seven years, but the statute of limitations on this subject can change from state to state. Check local laws on the subject of companies pursuing debt after seven years with help from the owner of a debt negotiation company in this free video on debt and money management.

Part of the Video Series: Debt Consolidation & Management
Promoted By Zergnet


Video Transcript

Hi. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company, and I'm going to tell you about it. Can a credit card company pursue the debt after seven years? The short answer, is no. However, what you have to do is you have to check with your local state law. If it is a possibility, because laws can change literally every six months about this particular subject. What you need to do is fine out in your local state, what is the statue of limitations in your state. Meaning, what is the point when a creditor cannot pursue legally, the debt that you owe to them. So what you have to do, is check on your local state law, what is the statue limitation per the law, in your state, and then you will find out if they can pursue it, or they can't. But you have to check your facts. Again, this is Peter Repak from Clear Financial. I'm the owner of the debt negotiation company. Thank you for watching.


Related Searches

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!