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How long is a debt valid for?
Answer
Normally a debt is valid for six years but of course a debt can become more difficult to collect the older it gets. Debts over six years old are generally statute barred if not certain circumstances succeed.
4 Additional Answers
Every state has different guidelines on how long a debt can be reported. A debt is valid for up to seven years, after which it should be deleted from credit report.
ManOnMoon123
In the UK, a debt stays valid and on record for six years. After the sixth year from the original default date, you are no longer required to pay back the debt so long as there is no printed acknowledgment of the debt.
Unsecured debts have a statute limitation of 6 years. This means that if you have not being contacted about the debt, you have not made payment and there has not been a court judgement. However, if you admitted to the debt you are in the clear.
MuleiSaysHi
A debt is 'valid' for ever, but it cannot be legally enforced after 6 years (12 for a mortgage) unless you admit to it. This is called the 'Statute Barred' and is the only reason you need give for not paying it. They will try and bully you, but hold fast - don't admit anything.
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