Statute of Limitations and Time-Barred Debts: State Information

“Time-barred” debts are debts so old they are beyond the point at which a creditor or debt collector may sue you to collect. This is often referred to as debts that are beyond the statute of limitations. State law varies as to when a creditor or debt collector may no longer sue to collect: in … Read more

I Found I Owe an Old Medical Bill. What Can Credit Collectors do to Me? – Mark

“Dear Steve, I am trying to clean up my credit. I found that I owe a medical bill from 2003. What can credit collectors do to me? I thought that these end after a number of years. Mark” Dear Mark, My first reaction is that if you owe the bill and you can afford to … Read more

I’m a Twenty-Something Guy Who Has Made Some Really Poor Financial Choices. – Mike

“Dear Steve, I’m a twenty-something guy who has made some really poor choices financially in recent years (I’m sure you’ve heard that before…). About a year ago I consolidated several different credit cards into one extremely large account. This past spring, due to several different financial constraints, the minimum payment on that account became impossible … Read more