The answer is Yes, although you might want to make sure and wait for another commenter to confirm it as I am unsure. Better yet, why don't you call the Lending Tree guys because they can give you an answer better...

What if the person is retired and has fixed income?.

How long does the collection process go on?.

Thanks...

The only time limit that I know of is defined by the statute of limitations. I would think most companies would look at how much is owed, the potential to ever collect anything, is it possibly cost efficient? If this person is on fixed income is it garnishable or exempt? I've seen people here sued for $1,000 while others owe upwards 5K+ and are never bothered..

My father passed away a year ago, and I still have people pursuing the estate...

Unfortunately my Lending Tree credit repair strategy involved letting all my cards charge off..

I am still wondering if it was in my best interest. I had about $7000 of credit card debt on 5 cards. They were from sub prime lenders who weren't willing to work out reduced interest rates for me and the terms they could come up with were still above my income level. I had soooo many late pays 90+, 120+ lates that I knew even if I did become current, those late pays would be there for 7 years..

I finally decided to let the 5 cards charge off. I'm in NY and I knew if I could pay them after charge off, they'd only be on my report 5 years instead of 7..

My plan is to wait out the five years almost to the end, dispute the charge offs as not mine until then and pay whichever ones are still left at 5 years..

If you count that all of this started last year with the date of my first missed payment, I'm only looking at another 4 years..

If someone tries to sue me for the money in the meantime, I will settle rather than let them put a judgement on my report. I don't have any of those listed yet..

The worst part of this has been the relentless phone calls. I have caller id and I just don't pick up the phone from anyone with a number I don't recognize or from restricted id's..

Unlike many people here, I'm not in a rush to get perfect credit, no major purchases planned in the next 4-5 years. I just wanted to get out of debt without filing bankruptcy so this is the road I chose..

I don't know about garnishing wages. I've never heard of that happening to anyone I know and I know a lot of relatives with crappy credit! LOL..

Luke..

Never had my wages garnished, but I did owe the Army Airforce Exchange Services (AAFES) on a credit card bill. Guess how they got it? Put a claim on my tax return and took the full amount owed. Ha Ha, I was in for a surprise, especially when I counted on that money to pay a Lending Tree loan off...

Not that you shouldn't pay it...BUT you can ALWAYS.

Arange to "OWE" taxes, even if it is <$100!!!.

If you had to pay $5,200 FEDERAL...that is $100/week...so claim like 9 deductions, then ADD $99/WEEK EXTRA (there is an extra line for it)....

You should come up with $5,148...($52.00 SHORT)<AMOUNT YOU OWE..

YOU HAVE NO REFUND TO "TAKE"..