After 7 years can a collection agency try to collect?

Asked about 4 years ago - Hollywood, FL

I had a bank of america card and got sick an could not pay and then was in a alf and the interest money went up as all my papers got stolen and instead of the money owed being $973 and did not pay in 7 years and the interest alone is almost $3,000 and I told them I can not do a one time settlement because i do not have that kind of money this is now going to ruin my credit.

Attorney answers (2)

  1. Mark Hankins

    Contributor Level 17

    Answered . Your credit was ruined a long time ago ... now it MAY be time for it to heal from this by the passage of time and operation of law!

    The statute of limitations on credit card debt in Florida is 4 or 5 years (depending on which judge you get in front of), and the reporting period under the FCRA is 7.5 years from the first day the card was 30 days late and was never caught up again. If the bank (or junk debt buyer) keeps it on your credit report a day after that (and if there's no judgment--you need to know whether there's a court judgment or not--it should appear on your credit report if it was filed), you can sue.

  2. Mark Hankins

    Contributor Level 17

    Answered . You need to do a strong cease & desist (a/k/a "F.O.A.D.") letter.

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