Hi!

[One Half Full]

I have some weird questions about what happens if you do not go BK after a long period of time. All my debts have sort of vanished. I have no proof I was ever having money problems. Also, this site seems to think i am not a human.

[One Half Full]

anyone? As I said, I have no proof of my debt on my credit report.

Actually, it is a good thing to see this site so dead. Back in 07-08 this was a real popular site.

[keepsmiling]

Hi Back
You've been around even longer than me without filing. We are just hitting a 5 year anniversary here.
What exactly do you mean that your debts have vanished? Did you pull your credit report? Could your SOL have expired? Never got any 109'9's?
I take it you are more or less collection proof? Self employed/retired/no major assets they can locate?
I'll be curious to hear how this falls out and what others have to say on the subject.
5 years later Amex has started again to call me at least once a week. I don't hear from too many others, mostly just a crappy little 600$ Discover Bill they keep trying to settle.

[One Half Full]

I went to one of these bill paying services to try to start paying something. They pulled up my credit report and found nothing. I basically owe a 50$ to a power company, and that is it. There is nothing. They wanted me to go looking for where my debt went. Apparently, I have no debts. Never got 1099s. don't know what that is. No major assets. I have been collection proof since 2009. I worked intermittent part time jobs. Had one job for a year. Am presently going to school. Hey, I would like to pay them off, really, but don't make enough money.

My first act, will be to file. I just simply have not made any more than about $6,000-$7,000 per year since then.

[LadyInTheRed]

The debts must be over 7 years old which is why they are not on your credit report. They also may be past the statute of limitations. That is what you need to look into for each debt. It is possible that all of your creditors wrote off and sold your debt. You could hear from a collector at any time in the future, but if the statute of limitations has run, then they can't sue you for the debt (they might anyway, but the lawsuit should be easy to deal with if you respond timely). If you get any calls, don't say anything except to ask that they contact you in writing about the debt. You should not acknowledge the debt or make any promises of payment. Depending on your state's laws, you could inadvertently reset the statute of limitations.

There is no point in paying on debt passed the statute of limitations, unless it is an individual or small business who you care about personally.

If you have no assets and nobody is trying to collect from you, there is no point in filing bankruptcy. Once you feel like you have income and/or assets to protect, consult with a bankruptcy attorney to determine whether at that point there is any need to file BK. While nothing beats the power of a BK discharge to deal with creditors trying to collect old debts, if the statute of limitations has expired on all your debt, I would rely on that rather than filing BK and ruining your credit for no good reason.

[One Half Full]

LOL. Thanks. It has been a while. 9-10 years. Haven't heard anything from anyone. Always asked them to send proof through mail. Do not take this lightly, but never knew that poverty might be my salvation.

[One Half Full]

I pulled my Experion report, the others wanted money. My judgement from the original credit card debt will vanish March of 2017. It says that the judgement was paid. It is possible someone bought it. The only adverse credit report will vanish next month (10/16). This was paid in its entirety. I have a lot of outstanding student loans now, but they are all in the green, and "OK." So, I will shortly have a perfectly clean credit report. I never got any 1099's. Yes, I was pretty much collection proof. Now, not so much. In 2008, the company I worked for decided to downsize in the middle of the stock market collapse. They got rid of 120 employees, mainly the older, top earning ones. Shortly thereafter, I lost my house, car, and everything, and I could not find any work. There was nothing out there until 2010, when I happened on a part time deli clerk job. I kept going to school was homeless for awhile, but am now about to graduate with a Masters. No major assets. Some old furniture, and shop tools really. A car valued at about 2000.00$ As far as SOL, I lived in the state with the 10 year SOL when the first cc debt was picked up. The other was in a state with a 4 year SOL. I now live in a state with a 4 year SOL.

Hi Back
You've been around even longer than me without filing. We are just hitting a 5 year anniversary here.
What exactly do you mean that your debts have vanished? Did you pull your credit report? Could your SOL have expired? Never got any 109'9's?
I take it you are more or less collection proof? Self employed/retired/no major assets they can locate?
I'll be curious to hear how this falls out and what others have to say on the subject.
5 years later Amex has started again to call me at least once a week. I don't hear from too many others, mostly just a crappy little 600$ Discover Bill they keep trying to settle.

[LadyInTheRed]

Have you incurred any debt other than student loan in the past 4 years? How long ago did you live in the state where the SOL is 10 years?

It sounds to me like you have no debt causing you any problem. So, I don't see why you would want to file BK. I reread your 3rd post in this thread. I may have missed it the first time, but it seems that the debt you were worried about then was a $50 debt. Filing BK for that amount would be crazy. What do you want to accomplish?

[One Half Full]

Hi, LadyIR, it was a $10,000.00 credit card bill court judgement that will disappear in March 2017. The credit repair place could only find a 50$ debt that seemed to have dropped off before this.There was a 180$ outstanding debt to another college (It was a fee I had not remembered to pay, and so I paid it some time last year). I have only incurred school loans in the past 4 years (which I obviously must pay because Government loans). I lived in the state for 7 years. I moved out to a state with SOL of 4 years back in 2008. The debt is from 2007, (also a repossessed car) when I was advised if going BK, not to pay my bills (advice from a lawyer) which was stupid advice. From 2001, to 2008.The debt will be off March of 2017 (10 years reflecting SOL).

You can see by my Join date, Dec, 2007, that is when the BK was going to happen, if ever.

Yeah, it has almost been 10 years. Everything else is gone. I had been freaking out because I had been thinking of all the interest they could tack on to that 10,000.00

Nope. I won't be going BK. I could not at the time because the fee the lawyer wanted, about 1500 was too expensive for me. (I have been making, on average about $7,000.00 per year on average since then, less than poverty level.)

[LadyInTheRed]

Sorry, I didn't realize that post was an update. I should have based on what you quoted in your post.

It is not stupid advice to stop paying on unsecured debt if you are going to file BK. But, you need to be certain that you are going to file. "IF" was an important part of the advice.

Crossing my fingers for you that you don't hear from the creditor before March.