Statute of Limitations?
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Posted by EricW
(198.179.227.50) on October 17, 2002 at 11:20:10:
Hello--while this is a long story, I'm going to make it short :) In the late 80s and early 90s I stopped paying on several bills/debts; these included student loans, back rent, credit cards and utilities. I moved and the creditors were not able to locate me in the intervening period. In that time I have not applied for any credit cards or taken on any new debt. A credit agency contacted me earlier this year about my student loan, which I'm now paying back. However, they must have sold my contact information to other credit collection agencies, because I'm now starting to get bills for very old debts. I got a 3-in-1 credit report for myself yesterday and found that, with one exception, it shows *no* items as being in collection. All of the derogatory information has fallen off of my credit report. Do I still have to pay back these old debts? The most recent is probably 8-9 years old (that is, 8 or 9 years since they were reported delinquent) and are not student loans or back taxes. Can they take me to court or garnish my wages for payment? Also, can they re-post these debts to my credit report? I was told that they can't but still may try, and that I may have to contest it....? PS: I live in Michigan, where the statute of limitations is 6 years on debt payback.
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