credit default

Hi Kate

Welcome to the forums. I will put your post in other words for a better understanding. The creditors try to collect the debt from the debtors and if it becomes hard for them to recover the payment, it is passed on to the collection agencies who try every possible ways and some times through unfair means to collect the debt. It actually depends upon the Statute of Limitation in your state It is actually the amount of time that a creditors gets to sue the debtor. The SOL varies from state to state. There is one statutory deadline for filing the claim, and if it is not filed within that time, the claim becomes forever barred.

Please do post further if you have any other queries and we will share our views in the forums.

Regards
Roxette

Hi Kate

The information which you have is not correct. This is totally based on the statute of limitation. And the statute of limitation varies from state to state. Since you have not stated the name of your resident state hence, the exact time after which the collection agency cannot sue you, cannot be stated. However, you should keep one thing in mind that whatever may the statute of limitation your debt never expires. What you have is an absolute defense in case the collection agency takes you to the court. Hope this will help you clear out your misconception.

Regards,
Peter