Houston Business Litigation, Consumer Debt, and Real Estate Attorney
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Wrong.

First of all, you shouldn’t let bad debt linger, and seven years is way too long! Clients give me this line all the time. I think they really hope that it’s true, and it sounds somewhat logical, but, no. It doesn’t work that way.

Generally speaking, there is a FOUR year statute of limitations for “bad debt” (whatever that means) to wind up in a lawsuit. However, most people don’t know the scary truth. Debts can actually come back from the DEAD! Additionally, if a debt is reduced to a judgment, it just tacked on at least TEN additional interest-bearing years! It’s common to have debts last 10, 15, 20 years or more based on how the debts were structured, how they have been used, and whether or not the debts were ever part of a lawsuit.

Not sure if your debt has risen from the dead? Maybe your debt’s alive and well, just around the corner, and gearing up to yell, “Boo!” Do something about it. Call an experienced professional. We’d love to answer your debt related questions and talk to you about cost effective solutions which protect your credit, your property, and your bank accounts from attacks you might never see coming.

 


Comments

01/27/2018 2:32am

It's a good info about the accounts bad debt linger. You have added very well info with there who are facing this risen in bad debt last seven year. This blog post is really helpful for me to get new technique and tips.

Reply
02/07/2018 2:14am

Sometimes even people with a good record get into unexpected situations and find themselves in debt all of a sudden. It does not mean they are criminals. This is where we can help. We can straighten the records out but first and foremost, an intent to pay whatever they owe should be there. If they happen to not really owe anything to anyone and just became a victim of technicality, maybe we can still help. It depends on the gravity of the situation.

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01/29/2018 3:33am

I cannot even digest that there are people who do not have the interest to pay the debt they've had from other people. After the kindness of other people who let you borrow money, you will not have the eagerness to pay them back? That's just so unacceptable and I feel sad for the initial kindness of those who lend money. Please don't wait for seven years with a belief that a debt can just disappear. That's not going to happen!

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02/02/2018 11:50pm

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Houston Business Litigation, Consumer Debt, and Real Estate Attorney