Can a company collect on a debt 15 years old?

Answer by  Erynn (1651)

No - but they can collect that debt from the 15 year old's parents or legal guardians. They are considered responsible for 'minors' until they're old enough to act on their own financially.

Answer by  tamarawilhite (17883)

No, in most cases, they cannot. The statute of limitations ranges from 4 to 10 years, depending on where you live. The only exception is back taxes.

Answer by  BearLoco (11)

The answer to this question is pretty tricky. Collection of debt really matters on what type of debt it is to begin with as well as your resident state. Depending on the debt statute of limitations of your certain state, they may or may not be able to legally collect.

Answer by  cynosure (376)

It depends on several things; just to name a few: What is the statute of limitations in the jurisdiction whose law governs the debt? Did the debtor ever reaffirm the debt through installment payment or in a writing? Was there an interceding bankruptcy of the debtor that discharged the debt?