Does Debt Have An Expiration Date?

Consumers rarely set out to create credit problems for themselves. Most people don’t wake up thinking, "Today is a great day to stop paying my bills. Let's see how quickly I can trash my credit scores." Instead, bad credit and debt problems tend to come from either bad luck or poor planning on the part of the consumer.Unfortunately, the world of credit reporting is self-policing and credit mistakes can haunt a consumer for many years. Creditors and the credit bureaus rarely accept excuses, even legitimate excuses, for unpaid debt.And while the lenders' decision to report late payments to the credit bureaus is voluntary, it’s so consistent that it seems mandatory.Thankfully in most cases delinquent debt is not able to haunt consumers forever. There are strict time limits that control how long a creditor may legally pursue a consumer for unpaid debt.However, as with many credit and debt related topics, there is a lot of confusion on the subject and most people do not truly understand the time limits associated with unpaid debt... take a look at  www.fixmycreditny.com