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    Statute of Limitations for credit card debt question?

    By CreditWiz | October 3, 2009

    paperclip questioned:


    I have been told the statute of limitations for credit card debt in Texas is 4 years. After 4 years, the credit card agency can no longer sue you. After those 4 years have passed, are all of the negative items removed from your credit report? Or is it 7 years?

    Topics: Debt Help |

    4 Responses to “Statute of Limitations for credit card debt question?”

    1. latebreakfast Says:
      October 4th, 2009 at 6:18 am

      The negatives stay on for a full 7 years.
      Bankruptcies and foreclosures are 10 years.

    2. Colt Says:
      October 5th, 2009 at 6:40 am

      After four years they can’t sue you in court. They can continue to try and collect and yes it stays on your credit report for seven years.
      Even if they sue and get a judgment, there are few ways for them to collect. Texas won’t garner your wages. They can’t touch your retirement,or your home if you homestead it.
      The link below has a lot more information.

    3. bdancer222 Says:
      October 6th, 2009 at 9:39 am

      Derogatory items age off your credit report 7-1/2 years from the date of first deficiency. This is per the FCRA and nothing restarts the clock

      The Statute of Limitations (SOL), the timeframe to bring lawsuit, varies from state to state. Typically the SOL starts from the date of last activity or last payment. Making payment or in some cases acknowledging the debt, restarts the SOL.

      People often confuse and merge these two things.

      The SOL is an affirmative defense. If you are sued, you have to show up and use the SOL as a defense. If you don’t show, the creditor will get a default judgment, even if the debt is beyond the SOL.

    4. Johnnie P Says:
      October 8th, 2009 at 2:59 pm

      paperclip, I found a nice online list of Texas credit card resources. Try calling a nearby service and they can answer your questions.