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After the 3-6 year period passes, can the creditor still collect these debts from debtors? The lender or collection agency can still attempt to negotiate with the debtor, but they don't have much to work with. They are not legally able to bring any legal action against the debtor, so these actions usually fall flat.

Most negative items should automatically fall off your credit reports seven years from the date of your first missed payment, at which point your credit scores may start rising. But if you are otherwise using credit responsibly, your score may rebound to its starting point within three months to six years.

Missouri differs when it comes to the statute of limitations in comparison to the other 49 states typical six-year window. In Missouri, the statute of limitations for oral contracts is five years, written contracts are 10 years, promissory notes are 10 years, and open-ended debts are five years.

The statute of limitations for a balance owed pursuant to a judgment in Missouri is 10 years. Under the law a judgment is deemed satisfied if ten years has passed since the judgment was entered and no attempt to revive the judgment.

If the defendant then fails to pay, you can file an appropriate action in court to collect your money (see Section IV, Collecting on Your Claim). The defendant should be sure the plaintiff files a ?Dismissal? form if the defendant pays the judgment before the court hears the case.

In Missouri, a procedure called ?discovery in aid of execution? can make collecting on a judgment easier. Collecting on a Judgment. ... Interrogatories. ... Request for Documents. ... Subpoenas. ... Deposition. ... Examination in Court Under Oath. ... Enforcement. ... Take Away.