The statute of limitations is 7 years (IDK if it varies from state to state). They can threaten to sue you but hey you can't squeeze water from a stone right?

If they do threaten you, get some legal advice from a lawyer. The creditors are probably just trying to scare you into paying. Keep ignoring them or pay a little bit but never agree to pay anything/anytime! That'll be considered a verbal contract.Technically, a debt collector can come after you forever for defaulted debt…however, once the statute of limitations is up…they've lost the power to successfully take legal action. Per the Fair Debt Collection Practices Act, you can send them a "cease communications" letter and that will be all that you need to do. Per this law they must cease collection activity.
There is a statute of limitations for credit card debt, which is the amount of time that they can successfully take legal action against you for the debt. This time period varies for each state. You can find this time period for your state by going to the link below and looking under "Open Accounts."

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

If your debt is older than the time period listed for your state, they can no longer defeat you in any court action because the debt is time-barred and you don’t have to pay it back. If it's outside of this time frame for your state:

Send the collection agency a letter via Certified Mail + Return Receipt (NOT regular mail) stating:

Per the Fair Debt Collection Practices Act, cease all communications with me about this alleged debt.

This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped.dont know bout the states but here with have a citizens advice bureau that act as your solicitor/lawyer for free u might have a similar thing if your american. Otherwise i would phone them up pretending to be your mum and inform them that you no longer live at that address and u are unaware of the new address. Then u should send them a letter asking for a circumstances evaluation questionnaire where you can fill in your income and outcome/benifets and disability to help your case THEN suggest a monthly payment in installments that u can afford even if thats just a dollar. See what their next move is?They can turn you case over to the state attorney generals office and if you don't pay then it could result in a sheriffs sale of your personal property, they can attach your bank accounts and wages, you could even face jail time if the case is turned over to the state and you don't pay them. While all this is going on, your getting late fees accruing and what not. I would try to talk to them and see if you can get a pay off. Sometimes they'll let it go for as little as 10% of what it owed.You're going to have to pay the money. I'm just 21 and had a credit card from when I was 18 and I just had to finally pay it this year when I got a letter from our court house from my home county. I had to call and pay the lawyer my entire debt or I was going to have to go to court and possible jail time.

If you're that much in debt if you don't start showing interest in the matter they are going to start sending people to repo everything including your house. My husband is a lawyer and he has had a client who had to go through this. He lost everything to the credit card companies. Now he's living in a 1 bedroom apartment with no job. It will be on his record until he dies.In the UK the statute of limitations is 6 years, if there has been no collections activity on the account.

Howver it seems there has been collections activity.

No matter, it probably is unfair they are still chasing a debt which is so old. If you live in the UK I can help you write a letter to stop the collections activity.

If you had mental issues at the time you signed the credit agreement then you might have a case that the credit agreement is unenforceable.

 

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