Legal Question in Credit and Debt Law in North Carolina

Robin,

I don't know if anyone answered this question and I just did not see it earlier.

Debts can stay on your credit report for 7 years after they are charged off or sent for collection. Charge-off occurs with 90-180 days after default.

Debts that go to judgment can stay on your credit report for 7 years after entry of the judgment, although the judgments themselves never go away and keep earning interest forever. They can only be enforced for 10 years after their entry, but they can be renewed for another 10 years.

Given these consequences, it may make sense for you to figure out how you want to resolve them. If your debts are big and there is no hope of ever paying them back, you might want to consult a bankruptcy attorney. If the debts are small they can be resolved, either through debt consolidation or debt resolution.

For debt consolidation, check out www.nfcc.org and find the name of a counseling agency nearest to yuo. Many people can't afford the cost of a debt management program so consolidation may not work for you. If you are one of those, consider debt resolution/settlement. There are many scam artists out there who will take your money. Here is a link to one of them who is legitimate: http://www.national-legal-center.com

I invite you to check them out.

I do not work for but provide legal services to the GA and PA clients of the above company. Another attorney handles NC if you decide to seek help from the company.

NLC does have clients with only 2 accounts so do not think that because you only have 2 debts you cannot become a client. Don't think I am pushing you - I am not. Not everyone is a good fit and your circumstances are unique to you. I do handle debt settlement for the occasional client privately for a reasonable fee.

If you would like to more specifically discuss your situation, I give free email consults and can be contacted at [email protected].