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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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I have a friend in Ohio that is debating filing bankruptcy.

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I have a friend in Ohio that is debating filing bankruptcy. She seems to think that after so many years, her debt is no longer collectable and should fall off her credit report. I can't imgine that is the way it works or everyone would just stop paying their bills and wait it out but laws can be confusing so I want to give her some solid information on this theory. Can you tell me, if say a debt from 2002, unpaid, in collection, should have fallen off her credit report? I hope this make sense. Thanks!

cortrightlaw : She is partly correct, the debt can only be sued on for a certain amount of years which is called the statute of limitations, give me a minute to look that up for Ohio. And as to the credit report it would drop off her report offer 7 years of being in default.
cortrightlaw : Ohio has a 6 year statute of limitations so after that it technically becomes uncollectable, but the creditors could still call her and attempt to collect.
Customer:

ok and if one collection agency sells to an other, does that restart the clock for the statue of limitations? And if it should fall off after 6 years, off her credit report, and it is still showing, what does she need to do to have it removed? thanks so much

She is partly correct, the debt can only be sued on for a certain amount of years which is called the statute of limitations, give me a minute to look that up for Ohio. And as to the credit report it would drop off her report offer 7 years of being in default. 11:51 AM Ohio has a 6 year statute of limitations so after that it technically becomes un-collectible, but the creditors could still call her and attempt to collect.

Customer: replied 3 years ago.

ok and if one collection agency sells to an other, does that restart the clock for the statue of limitations? And if it should fall off after 6 years, off her credit report, and it is still showing, what does she need to do to have it removed? thanks so much

No if they sell the debt it does not restart the statute of limitations, but do not expect them to be honest, they will say what ever they need to in an attempt to collect some money. As to the credit report if it is still showing after 7 years then it needs to be disputed with the credit reporting company. Also it is 7 years from the date of default or last payment, a payment along the way will restart the time
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