Can a debt collector get their money back from an estate sale if the debt is from more than 7 years ago?

So, if you have debt from 10 years ago and you buy a house and sell it before you die, can debt collectors get their money from the estate sale?

Can a debt collector get their money back from an estate sale if the debt is from more than 7 years ago?
If a lawsuit was filed and the company won than they can collect. They won't be able to file a lawsuit after the statute of limitations, which in some states is up to 15 years.
Reply:The first answer was right





The Statute of Limitations begins to run from the


day the debt, or payment on an open-ended account, was due. This information can be a powerful weapon in unburdening yourself of old debts, because creditors have a limited time in which to sue you.





The first thing you should do is determine if the statute of limitations for collecting a debt in your state has passed. In most cases, a debt will disappear from your credit report after seven years. If the debt is older than the statute of limitations, you should tell the bill collectors they are wasting their time by harassing you for an uncollectable


debt, as the original creditor or the assigned collection agency cannot take you to court to get a judgment.





Trying to collect on a debt is also a violation of the


FDCPA. Your credit report will tell you the date of the last activity on your account (the last time that you made a payment).





If necessary, send the collector a copy of your credit report with the date of last activity circled, along with a certified letter stating that the statute of limitations has expired.





Please note that the amount of time a late payment can appear on your credit report has nothing to do with the statute of limitations. This is a very important distinction. Even though a debt may no longer legally appear on your credit


report after seven years, you could still be sued for the debt if the statute of limitations in your state is longer than seven years.





For more info go to www.harrisandassociatescreditrepair1.com
Reply:Don't be fool, just because the credit file doesn't show an debt you owe over 7 or 10 years doesn't mean your in the clear, your debt can be sold to another creditor, who would put it in the file and draw interest onto you existing debt, even dead accounts, by law they can chase you up to 30 years, all they got to do is file your debt in court and serve you paper with court fees and new charges, this process can go on for 30 years and they can by court order freeze your bank accounts and the banks have no other choice buy to release your funds, if you have a house that's is free and clear or if you have the deed, then transfer the deed to a shelf corporation, this is asset protection, a corporation speaks for itself and by can not be touch by your creditors, you can put your profits in the corporation as well and they can not touch your money, how ever you must pay annual due corporate fees.
Reply:Well first off, you can pretty much ignore Calvin's answer. Not sure where he got that tripe from, but none of it is correct.





If the statute of limitations has expired like Hope mentioned, then you no longer have any legal obligation to pay.
Reply:It depends on the statue of limitations in your state.





http://www.expertlaw.com/library/limitat...
Reply:While you are in Debts Here are your options!





Do nothing!


This is actually one of the option alot of people try doing and finally put themself into deeper problem. You will eventually start getting calls from collection agencies and they will offer you settlement of around 50 to 70% meaning you will have to pay around 60% back in 1 payment which is not easy...





Debt Consolidation


Debt consolidation loan will help you to consolidation all your debts into 1 and you will start making 1 payment every month and they will start paying your creditor. This is something which will lower your interest rate but you need to understand debt consolidation will not do anything good to the principle amount.





Bankruptcy


Filing for a bankruptcy is another option but i am sure you understand you don't want this because this will stay on your credit report forever. This takes control out of your hands for more than 7 years and you still make monthly payments, so lets forget about this for now





CCCS - Credit counseling program


CCC organizations are usually designated as non-profits by the IRS, although many of these firms recently lost that status because the IRS felt that had "for profit" motives. These organizations combine your payments to one monthly payment, where you pay back all of the principal, some interest and some fees. Many CCC organizations receive funding from creditors as well as payment from their clients.





Many times these programs are generally drawn out over four to six years and less than one out of four actually complete the program. Many times these payments are higher than the original credit card payments and this program can have a non flattering affect on your credit.





So here is what you need!





Debt Settlement


Debt settlement or debt arbitration is a legal process used by both people in debt and their creditors to negotiate a settlement of an existing legal debt. This proactive approach is the most cost-effective option to pay off your current debt while avoiding the negative effects of bankruptcy. Any person owing credit card debt, or any other debt, has the legal right to contact and negotiate with the creditors. This practice however, takes time to master and certain skills to get the maximum benefits. The Debt Settlement Company works diligently and professionally with your creditors on your behalf to reduce your current unsecured debt balances down 40-60% by arbitrating an agreed settlement amount with your creditors.








Me %26amp; wife were in the same problem around a year back and we went with this debt settlement company. They reduced our debts down to 48% and obviously that was a big Relief... I like talking good about this company! Debt Care USA 800-266-9085