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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I was thinking about filing for bankruptcy ...

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I was thinking about filing for bankruptcy due to 3 old credit card debts totaling over $30,000. I recently pulled up my credit report to find they have all been removed (my guess is due to the age of them, over 6 years old). Should I still go through with the bankruptcy? If I don''t, can they still pursue me for the debt?
Hello,

When did you make your last payment on the credit cards? What state do you live in?
Customer: replied 8 years ago.
Quite a number of years ago, roughly 2001. I live in California currently but accrued the debt in Illinois.
Hello,

Thank you for your question. I am happy to assist you.

Illinois Statute provides a ten year statute of limitation on most credit card debt. The time limit begins upon “default,” which is usually your last payment. 735 ILCS 5/13-206

You may want to consider reevaluating whether to file your bankruptcy at this time.

Although you are still within the statutory period where suit can be filed, suit may not be filed timely. If you do not have a pressing reason to file bankruptcy at this time, you may wish to consider waiting to review your options if and when a creditor files suit. It is possible that the credit card companies have written the debt off and will not be attempting further collection action.

Please note that if you make a payment on these credit card debts, the statute of limitations may start from day one and run ten years later.

I hope that the information which I provided was helpful to you.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,
FLANDNYLAWYER

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