Reply to Outstanding Debts from 199...????

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[quote=Anonymous][quote=Anonymous]In my reckless youth, I qualified for a few credit cards and [i]foolishly[/i] maxed them all out. Sadly, I couldn't pay them off + then stupidly simply quit paying anything on any of them at all.

For awhile, I got the standard daily collection calls. They even called a few of my neighbors asking for me. I was "threatened" w/legal action, to garnish my wages in the future, but that never came into fruitation which I am not sure why. I know one credit card wrote off one debt as a charge off, while another one has forwarded my balance on to an attorney who sends me letters offering to [i]settle[/i] for a lesser amount which I receive every four months or so.

My dad told me that since these debts were made in the mid-nineties, they are like a bankruptcy, they pretty much automatically are erased in the same manner. Yes, my credit score/record is still blemished, but the debts are erased vs. outstanding. In other words, I owe nothing just like if I had filed for Chapter 7.

Is this true? After a certain amount of time, such as 20 yrs., do debts just get erased automatically like they do in a Chapter 7?

Thank you for any and all advice/input.[/quote]

No they don't, you should hire a bankruptcy attorney.[/quote]

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