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How do I remove a debt when the statute of limitations expires?


Negative information can leave terrible blemishes on your credit report. So when the time limit for that debt is up, you definitely want the debt removed from your credit report. However, it's important to know that the credit reporting time limit not the statute of limitations dictates how long debts stay on your credit report. Credit bureaus can continue reporting delinquent debts even after the statute of limitations has expired.

In a nutshell, the statute of limitations is the amount of time that a debt is legally enforceable, meaning the court can force you to pay a debt. It comes into play if you're ever sued for an old debt.

The credit reporting time limit is different. It's the amount of time credit bureaus can report delinquent account information on your credit report. The credit reporting time limit for most negative information is seven years. The statute of limitations varies by state and may be shorter than seven years. Therefore, the statute of limitations on a debt can expire before the credit reporting time limit for that debt expires. In that case, the debt can (and usually will) still appear on your credit report.

There is one instance that the statute of limitations takes priority over the credit reporting time limit, but not in your favor. A lawsuit judgment can remain on your credit report until the statute of limitations if that time period is beyond seven years.

More FAQs on Debt Statute of Limitations


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