Re: Statute Of Limitations For Debts questions

Posted by Wow (146.145.106.75) on June 10, 2003 at 15:05:26:

In Reply to: Statute Of Limitations For Debts questions posted by Randy on June 02, 2003 at 17:08:08:

First of all, debt is debt. If you owe it, they want it. But if they can't make you pay within the designated time frame (i.e. threatening letters, garnished wages, legal action, etc...), they must swollow the lost funds. If you wait until the debt is rolled off your credit report, it has already been established that that debt is "deep sixed!" Out of sight, out of mind. Unless you are buying a house from the FBI, there is no concern for a bank or credit company to investigate what is not on your credit report. How would they know to look if (a) you didn't tell them; (b) it's not in front of their eyes; or (C) you are not one of America's Most Wanted?

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