Can the statute of limitations erase my credit card debts?

It really does get depressing......

Once again, another straight forward question....once again tons of idiotic, uninformed answers that are all wrong.

I%26#039;ve only posted this same answer dozens of times here on Yahoo, yet these people continue to demonstrate why you can%26#039;t believe everything you read here on Yahoo Answers! It really ruins a good idea.......

Yes, there is a statute of limitations. Every state has one, and the time varies from state to state....averages around 6 years. After this time has run out, the creditor can no longer legally collect on your debt.

Look at the links below, as they explain all about it.

Maybe If I post this enough times....these other responders will take a peak and educate themselves.

Can the statute of limitations erase my credit card debts?

In 7 years it will wipe you clean

Can the statute of limitations erase my credit card debts?

lol sorry no limitations on debt unless you delcare bankrupt. Even then no gaurentees

Can the statute of limitations erase my credit card debts?

No. a debt comes from some sort of contract, companies sell debts. They are receivables. They do not go away. CC companies and CC rpting %26quot;agent cies%26quot; like to keep files alive

Can the statute of limitations erase my credit card debts?

Bankruptcy can wipe the slate clean

But you will find credit expensive when you are out of it

Can the statute of limitations erase my credit card debts?

Theoretically it should. 15 yrs. ago I had a repossession. 7 yrs. after that a property management company ran my credit, and it came back clear! But when I checked my credit report recently, there it was! I think information is much more easily accessable through the computer that if you look hard enough, you can find out anything.

Can the statute of limitations erase my credit card debts?

YES ! after 5 clear years from any action from a financIEr you are no longer listed on credit reference co,s files, BUT the original financier MAY still have you on record so ie; if you took out a credit card %26amp; maxed it out the bank would sue you but if you disappear for 5 years your home free (just don%26#039;t try anyone you dudded previously!)

Can the statute of limitations erase my credit card debts?

It%26#039;s is definitely not the same to apply for a credit card right away after bankruptcy than applying after two years or applying past ten years when your bankruptcy will be removed from your credit report. You need to understand that bankruptcies on your credit history scare lenders and financial institutions away and if the entry is in your recent credit history, chances are that you%26#039;ll get declined.

Truth is that there is no particular time period specified to apply for a credit card after a bankruptcy process. Yet, most lenders and financial institutions would agree that a two year period is the least time required for applying to obtain any kind of financial product if you have gone through a bankruptcy process in the past. Thus, though you may get a credit card sooner, don%26#039;t expect to obtain an excellent deal. Read more about it at: http://www.credit-card-gallery.com/artic...

Can the statute of limitations erase my credit card debts?

Yes....under common law a debt outlaws after 20 years provided there has been no activity on it.

It is off your credit history after 7 years.

Can the statute of limitations erase my credit card debts?

after 7 years they fall off i think!