This is in reference to unpaid credit card debt.
As I understand it the credit card/collection agency has 6 yrs (in NJ) from the last activity in which to file a lawsuit to collect. If that is not done what happens? Is that what a "charge off" is on a credit report? And will that be on there for 7 years?
I realize the debt does not "go away" but is it enforceable to be collected after that point?
thanks
As I understand it the credit card/collection agency has 6 yrs (in NJ) from the last activity in which to file a lawsuit to collect. If that is not done what happens? Is that what a "charge off" is on a credit report? And will that be on there for 7 years?
I realize the debt does not "go away" but is it enforceable to be collected after that point?
thanks