Statute of limitations

california
what is the statute of limitations on a write off of a loan?

[I AM ALWAYS LIABLE]

Originally posted by Slowcrow
california
what is the statute of limitations on a write off of a loan?

My response:

I'm not sure you're using the correct terms; i.e., "write off".

A "Write Off" is another way of saying "Charge Off" regarding a debt owed to the creditor, and both terms are creditor accounting terms. That is also a term or terms used by credit reporting agencies to indicate a debt that the creditor considers uncollectable. But, that designation doesn't mean that someone else (a collection agency) won't attempt collection of the debt.

Now, are you asking "How long does a Charge Off stay on my credit report" or, are you asking "How long does a creditor have to collect a Charge Off debt ?"

IAAL