How long??

[Mango]

How long before my credit score improves? I am in deep CC debt that i cant pay, and havent paid for over 3 years, and SOL im my state is 4 yrs. I havent been sued as yet, just collections trying to get the money from me. I am just trying to wait it out..Creditiors are still making negative marks on my credit report. My score is 580. I am paying student loans on time, and I have two small CC i pay on time..Will my unpaid CC come off my report after 7 years? How long will these creditiors make marks on my report? Will they stop when the SOL is reached? And does SOL mean that the creditors legallu cant go after me anymore? Thanks..

[kornellred]

The first thing you need to do is forget about the whole Statute of Limitations thing. Attempting to defeat your creditors by relying on the SOL is a dangerous way to live. You have not been forgotten about, and your creditors are well aware of the situation. There are quite a few sneaky ways of getting debtors to acknowledge indebtedness, and each time a debtor acknowledges the indebtedness, the SOL clock gets reset. But to answer your question: if by some miniscule chance you manage to stay isolated from collections agencies and do not acknowledge the debt for the specified period of time in your state, the debt owner cannot sue you in civil court and win. They can sue you, but you would have to go to court to prove that the SOL is valid.

Find a bankruptcy attorney. It is your only realistic choice.

[kornellred]

Before I get called out for it - I must add that simply acknowledging indebtedness on a time-barred debt does not automatically reset the SOL clock. The point I am trying to make is that, barring making a payment on a defaulted debt, a debtor must be pretty sure that the SOL clock was not inadvertently reset by some obscure technicality in the process of communication. Such technicalities vary from state to state.

Good luck if you want to play the Statute of Limitations card in court.

[Fleischman]

In addition to what kornellred said, remember that the SOL does not translate into the reporting period for your credit rating. A time-barred debt can still be reported as past due - the SOl doesn't mean you don't have a balance due, it simply means it's legally uncollectible.