• tomkatt@lemmy.world
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    2 months ago

    Generally speaking, idle unpaid accounts like this are either sold by the creditors to a third party debt collector, resetting the clock, or they will sue you for the non-payment to get a judgment or lien, resetting the clock.

    The only sure bet is bankruptcy, which will drop off your report after a period of time that varies from state to state in the U.S. (generally from 7 to 10 years). Not sure is this applies outside the U.S.

    • acchariya@lemmy.world
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      2 months ago

      False. New debt collectors purchasing the debt does not reset the clock. Also depending on your state, debt collectors could be barred from legal action well before 7 years.

      Edit: in the USA