Just how long can a financial obligation collector legitimately pursue old financial obligation?
вЂњCollectors can make an effort to collect on old financial obligation forever,вЂќ says Donald E. Petersen, a Florida customer security lawyer whom defends charge card situations. вЂњIвЂ™ve had customers contact me personally that are getting telephone phone phone calls about financial obligation that is 14, 15 or 16 years of age. The record thus far is 21 years.вЂќ
After the statute of limits in your personal credit card debt has expired, your debt is recognized as вЂњtime-barred.вЂќ Which means a financial obligation collector can no sue you over longer your unpaid financial obligation. Having said that, some loan companies nevertheless attempt to sue customers even after the statute of limits has expired. Continue reading Legally, a debt collector can pursue debt that is old