Many people wonder will there be a statutes of restrictions on commercial collection agency?

Many people wonder will there be a statutes of restrictions on commercial collection agency?

the solution is yes, and old records don’t live forever. But, underneath the right circumstances, your debt statute of limits may be renewed for almost any sort of debt. Therefore before you pay anyone anything if you think you are being contacted about a debt that is past statute of limitations on collections get a free, no obligation free fair debt/fair credit case review.

Exactly what are debt statutes of limitations (SOL)?

Your debt collection statute of limits is the period of time a creditor can much longer sue you to definitely collect. Debts which are beyond the financial obligation statute of limits possibly uncollectible, capable or unreportable of easy quality.

If your financial obligation collector threatens to sue you over a free account this is certainly beyond the continuing state statute of restrictions on financial obligation they’ve been in breach regarding the Fair business collection agencies techniques Act. In reality, it really is an FDCPA breach for the financial obligation collector to try and collect even a financial obligation this is certainly through the business collection agencies statute of limits without advising you that it’s at night business collection agencies SOL for the state. Read more…