Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
ryanpd

0 Contributions
0 People Helped
If I owe more than $20,000 over the last 4-5 yrs , do I have legal issues to worry about?
its discover..citibank visa etc..

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
227 Contributions
88 People Helped
Most Helpful Response

Helpful to 1 out of 2 people

check the statue of limitations for your state. this is unsecured debt, so the only way for it to attach to anything like a home, or to continue to follow you, is by a judgement. they have a limited amount of time to file judgement against you, and they notify you by mail with court proceedings. judgements also typically show up on credit reports. so... if you're past the SOL, then legally they can't do much but deny you credit in the future, and report you to credit agencies. after seven years, the latter is gone. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.