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How long will they chase me

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    How long will they chase me

    So I've been in default for several months. Funny how some creditors come on strong and give up quickly because they can't make any commission, but others are more relentless. So I got to thinking, if I never filed BK, and just let the unsecured creditors continue to call me, how long would they call for, or would they eventually just give up? Months, years, infinity & beyond...?

    How long have creditors been known to hound you?

    Mike

    #2
    They can chase you the entire period of the Statute of Limitations (SOL) for the state in which the debt was created. This could be 4-8 years. They can then, before expiration, file a lawsuit and obtain a judgment. Then they can chase you for 10 more years. In most States, at the expiration of the 10 year judgment, they can then renew the judgment for 10 more years.

    So, they can hound you for 4 to 28 years.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    I am not an attorney. Any advice provided is not legal advice.

    Comment


      #3
      It depends on how much the debt is for, whether you have assets or income to take, and how litigious they are. Even then, there is no guarantee.
      Chapter 7, above median, no asset. Discharged with no UST involvement.

      Comment


        #4
        Actually, they can hound you even after the SOL passes. There is nothing to keep a creditor from trying to collect a time-barred debt. The just can't sue or threaten to sue you and can't lie if you ask if it is time barred. What is most likely to happen if they don't sue is that they will sell the debt and you will be hounded by whoever buys it. A collector can pop up years after you have forgetten about a debt.
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

        Comment


          #5
          I suppose it makes sense that it wouldn't just evaporate, noting is evert that easy. Thank you for the replies

          Comment


            #6
            We are just about to hit the four year mark. Good thing we got Google Voice. If you want to keep your sanity, you should get it too
            While calls have dropped significantly, rarely a day goes by without at least one call.

            We were not sued until the 3 year mark. Btw we fought one and won, and settled one for 100 bucks. In process of fignting one now. My dh is looking forward to the challenge and possibly breaking some new ground. Will keep you posted on results.

            We have not filed yet because we won't be in a better position afterwards.

            Keep On Smilin'

            Comment


              #7
              Originally posted by justbroke View Post
              They can chase you the entire period of the Statute of Limitations (SOL) for the state in which the debt was created. This could be 4-8 years. They can then, before expiration, file a lawsuit and obtain a judgment. Then they can chase you for 10 more years. In most States, at the expiration of the 10 year judgment, they can then renew the judgment for 10 more years.

              So, they can hound you for 4 to 28 years.
              They can chase you entire your life. If its a huge amount why they will give up on you?

              Comment


                #8
                Hizabione, welcome to BKforum!

                Please review the rules, including the one about bumping old threads. Thank you.
                LadyInTheRed is in the black!
                Filed Chap 13 April 2010. Discharged May 2015.
                $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

                Comment

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