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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2870
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I have had a creditor on my credit report for 6 years. I understand

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I have had a creditor on my credit report for 6 years. I understand in the state of Minnesota, that after 5 years a creditor is erased from your report. is this correct and if so, how do I erase it and how long after is it removed from my credit report

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

I believe you are asking about the statute of limitations on collection of a debt.

Terry L. :

Generally, debts can be reported on your credit report for 7 years, payments, late payments etc.

Terry L. :

A statute of limitations is just a defense to collection on a debt

Terry L. :

If there has been no payments or acknowledgment of the debt, then once the statute of limitations passes, then the debt is uncollectable.

Terry L. :

If the debt is passed the reporting time, then contact the credit bureaus to fix any inaccuracies.

Terry L. :

Let me know if you have any other questions.

Terry L. :

Thanks

Terry L. :

Terry

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