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We Dropped Out of the Everest Debt Solutions Program. – Andy

“Dear Damon,

We had been carrying $30,000 in CC debt for about two years making the minimum payments. We were waiting for a business deal to go through so that we could pay off the debt. We hadn’t missed a payment but we missed the small print on a letter that they sent us that allowed them to double our minimum payment and triple the interest rate. At that point we went to a debt solution company, Everest Debt Solutions. Under their program we stopped paying the CC bill and started paying Everest to start a savings and eventually negotiate our debt.

We dropped out of the Everest program after a year because less than half of the money we were paying them was going to savings and the rest was used to pay their fee’s. Now it’s been 8 months or so. The creditors stopped calling and we have started getting higher credit limits again.

It has been three years since we defaulted on our credit card debt. Our credit is recovering. What can happen if we never pay the debt? Is there a statute of limitations on debt collections?


Hello Andy,

It depends on your state. I wrote an article about it in 2009 that listed the year based on the state.

You will want to do a google search for statute of limitations on a credit card debt in your state to double check that it didn’t recently change.

While it might seem like it is gone, these things have a tendency to pop up when you least expect them. The statute of limitations in many states is 4 to 6 years, but some can be as high as 10 years. If you have the means to potentially take care of these debts now, and the statute of limitations is still a ways off, you may want to consider resolving them.

Damon is a talented independent debt coach that provides in-depth assistance and consultations for people struggling with debt. If you want a personal debt coach to help you through a difficult situation or want assistance to find secret discounts offered by debt settlement companies I think Damon Day is an excellent person to contact for advice and assistance. He can be reached directly at

If you have a debt related question you’d like to ask, just use the online form.

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About the author

Damon Day

Damon Day is a talented Debt Coach who offers fee based consultations to consumers as an alternative to the typical free debt relief consultations which are nothing more than thinly veiled sales pitches lacking any real information to help a consumer make a good decision. You can learn more about how he can protect you from getting ripped off at

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