I have a credit card debt that I incurred about 8 years ago. Collectors are still calling me to pay up. I tell them the time is up and after, I believe, 7 years, the debt is discharged. Is what I think (about credit card debt being discharged after a certain period of time and getting a fresh start) correct?
2 Answers from Attorneys
depends upon when you made the last payment or charge on the account. The statue of limitations on the outside is 4 years from the date of breach to be sued.
I agree, the time to pursue a lawsuit is 4 years from the last time you acknowledged owing the debt.
The discharge you speak of is only after the successful completion of a Chapter 7 or 13 bankruptcy. Have you filed for bankruptcy protection?