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The Watercooler
Flash of panic -- can creditors come after extended family?
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<blockquote data-quote="keista" data-source="post: 449745" data-attributes="member: 11965"><p>To add to what <strong>Seriously</strong> said: Once the statute runs out, that debt is often sold to others for pennies on the dollar. Those ppl then try to collect the debt and make some money. If you acknowledge the debt with the new ppl and set up a payment plan it becomes a NEW debt and then you have to dodge those calls again for another 4-7 years (depending on statute of limitations in your area)</p><p></p><p>And even if the statue of limitations is less than 7 in your area, it still stays on credit reports for 7 years.</p></blockquote><p></p>
[QUOTE="keista, post: 449745, member: 11965"] To add to what [B]Seriously[/B] said: Once the statute runs out, that debt is often sold to others for pennies on the dollar. Those ppl then try to collect the debt and make some money. If you acknowledge the debt with the new ppl and set up a payment plan it becomes a NEW debt and then you have to dodge those calls again for another 4-7 years (depending on statute of limitations in your area) And even if the statue of limitations is less than 7 in your area, it still stays on credit reports for 7 years. [/QUOTE]
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Flash of panic -- can creditors come after extended family?
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