The length of time it takes to collect a debt depends entirely upon the creditor and the debtor.
Sometimes a debt can be collected simply by writing a demand letter to the debtor. Other times, a debt can
be collected quickly by the creditor’s willingness to settle. Other times, litigation occurs, and during the course of the litigation, the debt is collected, or a settlement is reached for at least partial payment
of the debt.
There are other circumstances in which the case concludes, a judgement is entered in favor of the creditor, and no payment is made any time soon. However, the judgement becomes a
matter of record.
On down the line, the debtor goes to enter into a transaction that is on the debtor’s credit report, and the debtor is forced to deal with it by making an offer of payment to the judgment