My situation is similar to many of those here. I was divorced in 1995 and was stuck with massive credit card debt. For several years, I tried to maintain a good account with the companies by paying every month. Due to my wages being cut for a period of time, I was not able to continue paying them and they were charged off (2 accounts) as bad debt. This has been 5 years now and I haven't been served any paperwork in regards to judgements, etc. I Do know that the accounts were sold to other companies because they appear on my credit report. Both the accounts together are $10k. I'm just wondering, when the statute of limitations runs out, what do I do then? Does this info just come off my credit report or what action do I need to take to get this done? I'm sure this has been posted on here many times, but I just don't have the time to sit and read through every post to find the answer. There are so many acronyms for everything that I don't always know what they are. Any help would be appreciated.
