I am 35 years old. When I was about 17 – 18 years old I got a department store credit card. Well I thought that I paid it off. The company went out of business. Seventeen years I am getting a call from a credit collection company saying that I owe the money. I have not heard anything from anyone until now.
I think that in most states a collecting a debt that has been outstanding for 17 years would be barred by statutes of limitations. Technically the expiration of the statute of limitations does not mean that you do not owe the debt. It means that the courts will no longer enforce the obligation.