What age does to a debt
The age of the debt is the biggest single factor in whether it gets collected. The best window is 60 to 90 days past due. Industry surveys put the chance of collecting a past-due account at roughly 7 in 10 after three months, about 1 in 2 after six, and a small fraction once it passes a year.
The reasons are practical. Debtors move and change numbers. Businesses close or change names. Bank accounts are emptied or closed. Other creditors collect first. Paperwork goes missing. None of that makes an old account impossible; it makes it slower and less certain.
Why an old account is still worth placing
- It costs nothing up front. The fee is a percentage of what is recovered, and if nothing is recovered you owe nothing.
- Skip tracing finds debtors who moved, changed numbers, or went quiet, plus any assets, bank accounts, and property they control.
- Debtors who ignored you for two years often respond to a third party, because they understand the debt is now being pursued seriously, that it can affect their credit, and that legal action is on the table.
- A demand from a law firm in the debtor's own area can change the direction of an account that letters from you did not.
Where the statute of limitations fits
Each state sets a time limit for filing a lawsuit over a debt. The limit varies by state and by the type of agreement, such as a written contract, an oral agreement, or an open account, and in many states it is measured in years. Passing that limit does not erase the debt, and the debt can usually still be collected voluntarily, but a lawsuit may no longer be available, which removes the strongest lever.
That is the real reason not to wait. If an account is approaching the limit in the debtor's state, place it now. Before any recommendation to litigate, an attorney from our network in the debtor's jurisdiction reviews the legal position.
What we need for an old account
The debtor's name, the last address, phone, and email you have, the exact balance, and the date of the last payment or the date the balance came due. Then whatever shows the debt: a ledger or itemized statement, the signed contract or credit application, invoices, promissory notes, and any written promise to pay. Start with what you have. Skip tracing fills in the rest.
What to expect
An honest assessment. We look at the debtor's current situation and the documentation and tell you what the account is likely worth. Many old accounts resolve in direct collection. Some need an attorney. If the facts, the available assets, or the overall recovery potential do not support further action, we recommend closing the case at no cost to you.
Common follow-up questions
Is a debt over a year old a lost cause?
No. Collectability drops significantly after a year, but old accounts are placed and collected regularly. Lower odds are a reason to place the account now, not a reason to write it off.
Does a partial payment restart the clock?
In some states a payment or a written acknowledgment of the debt can restart the limitations period, but the rules vary by state and by the type of debt. It is one of the things our attorney network reviews before any recommendation to litigate.
Can you collect a judgment I won years ago?
Yes. Judgments are among the accounts we take. After a judgment we run asset searches, verify employment, and locate property and accounts so the judgment actually gets enforced through wage garnishment, bank levy, or asset sale, where the law allows.
Talk to us
Tell us about the accounts and we put together a free assessment, usually within one business day. Request a free consultation, contact us, or call 321-710-3530. Ready now? Place a claim and we go to work today. No recovery, no fee.