Debt Collection Myths – Ignored Debt Will Go Away

If it were true that Ignoring your debts would make them go away, then everything that you owe would go away just by turning a blind eye to it!

If you stall long enough, it is possible that the debt collection calls and the letters may stop, but the debt is still there, you still owe it.

That debt will likely continue to live on your credit report until the statute of limitations expires.   This creates an unpleasant surprise when you try to refinance a mortgage or engage in other debt activity.

Even after the statute of limitations expires, it is possible that the debt is still in your creditors’ records.   Good Luck trying to get new credit from them again.   Odds are, you will have to pay off the old debt before that company will ever do business with you, or your company again.

It is always best to face your creditors, or the agencies or debt collection attorneys that represent them.  If you are having issues paying debt, work with the people reaching out to you.  Ignoring them…. will not work.

 

Marcadis Singer, PA
5104 South Westshore Blvd.,
Tampa, Florida.
Phone: (813) 288-1881

Debt Collection Myths – Ignored Debt Will Go Away

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