When will debts clear?

Member

Some say after 5 years, some say 6 or 7, I have read as many as 10 years and others have said never.


It is very confusing. I have a large debt that has been with me for nearly 6 years and if it will just be cleared, I won't worry about paying it. How long does it take for debt to clear on its own?

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May 17, 2020 8:33 PM

It is 7 years on almost all cases but your debts don't just disappear. You still owe the money and can still be sought after to pay them back, even if this means taking it to court.

May 18, 2020 7:33 PM

You have to check your state. Every state is a bit different. Most states are 6 to 9 years. Some have stipulations, like in my state, that debt can be held in place for up to 15 years.

May 19, 2020 8:46 PM

Member

brock_jenkins: You have to check your state. Every state is a bit different. Most states are 6 to 9 years. Some have stipulations, like in my state, that debt can be held in place for up to 15 years.

Up to 15 years ???? 🤭 I heard 7 years max. Interesting...

May 26, 2020 9:01 AM

Member

It depends. The average seems to be 7 years but in some states and with some banks, it can be up to 15 years like mentioned. It is worth knowing the laws and your rights where you live when it comes to this kind of thing.

July 23, 2020 8:54 PM

Member

My friend's debt was gone after 8 years. The collection agencies stopped calling and stopped sending letters after the 7 year mark as well.

July 24, 2020 12:13 AM