If a debt is no longer showing on my credit report, will I still have to pay it back?

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If a debt is no longer showing on my credit report, will I still have to pay it back?

This is a debt that I have from my college years (cancelled the credit card over 7 years ago) and I recently checked my credit report and it’s not on there anymore.

Asked on February 8, 2012 under Bankruptcy Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Credit reports are not legally binding; that is, whether or not something is on your credit report has no bearing on whether the debt is still legally enforceable. A debt may be legally enforced until the statute of limitations (SOL) for that kind of debt expires. In Virginia, it appears that if the debt is seven or more years old, that the SOL has expired--the SOL for open accounts is three years, I believe, and it's five years for a written contract. So, due to the age of the debt and the SOL, it would appear the debt is no longer legally enforceable.


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