Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
Re: Defaulted amount and PG

Per reporting, it has to follow the same rules as personal accounts. It can report for 7 to 7.5 years from the date of first delinquency. If it went bad 7 yrs ago, then expect it to fall off soon, if reporting. 

 

Per being sued, it depends on your state's statute of limitations. That varies by state and by debt type. It's possible that already expired. YMMV. Also, in some states, SOL can be restarted if a payment is made, a promise to pay was made, acknowledging the debt, etc. If you asked for a copy of the contract, they don't have to provide it, but must produce it in court.