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It may depend on your state laws and the type of debt (such as money owed by a court order vs credit card), but for the most part, collection agencies have a limit of seven years to recover the debt.
Wiki User
∙ 16y ago
Wiki User
∙ 15y agoIn so many words, the creditor is under no obligation to take actions to collect, (although at some point they have to have attempt to demanded payment (the debtor simply moving or avoiding notice doesn't work), which that very first letter saying you were late, please pay qualifies as), however: THE DEBTOR IS ALWAYS BOUND TO PAY, IN ACCORD WITH THE AGREEMENT THEY SWORE TO WHEN INCURING THE DEBT....they do not get to be excused from it simply by not doing it.
Wiki User
∙ 15y ago6 years
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Is there a statute of limitation for collecting on lease costs for an automobile in Michigan?
The standard limit is 6 years for debts in Michigan. This is from the last communications by the debtor. They can file claim at any point during this time.
In the state of California what is the statue of limitations on collecting rent after eviction?
The standard limit is 4 years for debts in California, but only 2 years for Oral agreements. This is from the last communications by the estate. They can file claim at any point during this time.
Is there a time limit for collecting medical bills in MI?
Nope. A debt is a debt, and you are liable for it until it is paid.
When is too late to collect on an unpaid bill?
Each state has a Statute of Limitations that specifies time limit on debts.
Is there a time limit in Missouri to probate a will?
There is no specific time frame in Missouri. The estate has to be inventoried and appraised, the debts collected, taxes paid and the terms of the will meet.
How can I find California's statue of limitataion on collecting a debt?
In California the standard limit is 4 years for debts, but only 2 years for Oral agreements. This is from the last communications by the estate. You can find it in the Code of Civil Procedure Sec. 335.1, 340
What effect did Scrooge have on people?
Many fear him because he held they debts and as such had the power to have them imprisoned for non payment. In addition he was notorious for collecting in his debts on time or adding more to the debt for miss-payment so people would stay out of his eye line if possible
What is statute of limitations on collecting fines imposed by Ohio courts?
There is not statute of limitations on collecting fines imposed by Ohio courts. Once the order has been given by the court, it can be appealed or reversed but there is no limit to the time allowed for collection.
What Latin American proclamation stated that force could not be used as a means of collecting debts?
Drago Doctrine. :)
What is the time limit to probate a will in Tennessee?
That will depend on the complexity of the estate. There is no definitive answer.
What are the simplest advantages of invoice factoring?
Invoice factoring saves your company time and money, by passing your accounts receivable on to a company that specializes in collecting debts. You would not have to spend time and effort tracking down slow or no-pay accounts receivable.
Is there a time limit for the arrested being held in Ohio to be extradited to Michigan on a back child support warrant?
Perhaps not - there is no statute of limitations on collecting unpaid child support.
