| They can try to COLLECT forever, however the statute of limitations applies for them to SUE you for the debt. In IN, the SOL is 6 years for a CC account (open-ended), and 10 for written contracts. So, basically, after the SOL has passed you can send them a Cease and Desist letter telling them never to contact you about the debt again and most of the time (except for some real bottom-feeding scum collectors) they will go away.
If a collection had dropped off your CR after the 7 year period and you have done NOTHING to reactivate the account (like paying), it is illegal for the debt to be REAGED and placed back on your credit report.
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"Knowledge is Power - use it as you see fit !
I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
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10-18-2002, 12:55 PM
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