Old Project Avalon Forum (ARCHIVE) - View Single Post - What will happen if I quit paying my credit cards?

tone3jaguar · 03-04-2009, 01:43 AM

There is a statute of limitations on unsecured debt. The time varies from 4 years to 6 years depending on the state you live in. As long as during that time you never admit to a debt collector that you have the debt, after the time has elapsed you can write the collection agencies with telling them to erase the debt from your record, then you also write the credit rating agencies telling them the same thing. If they try to call collecting the debt after the credit rating agencies have erased the debt from your credit report, you can tell them that it is passed the statute of limitations for collection and they will have nothing on you.

I got this information from the debt cures book that is sold on infomercials on television.

03-04-2009, 01:43 AM	#25
tone3jaguar Avalon Senior Member Join Date: Sep 2008 Location: www.altimatrix.com Posts: 1,525	Re: What will happen if I quit paying my credit cards? There is a statute of limitations on unsecured debt. The time varies from 4 years to 6 years depending on the state you live in. As long as during that time you never admit to a debt collector that you have the debt, after the time has elapsed you can write the collection agencies with telling them to erase the debt from your record, then you also write the credit rating agencies telling them the same thing. If they try to call collecting the debt after the credit rating agencies have erased the debt from your credit report, you can tell them that it is passed the statute of limitations for collection and they will have nothing on you. I got this information from the debt cures book that is sold on infomercials on television.