Answer by
flamiss22 (5081)
There is really no statue of limitations on a debt. That is why the person owing the debt can outsource it to different collection agencies over the years hoping someone will be able to get the money they are owed. Try and make some arrangement with the debtor.
Wrong. They sell these debts for pennies on the dollar. The debt collector hopes to make a profit. In MI it's 6 years from the time of your last payment if you make a payment the clock starts over add a comment