What is the statute of limitation for a debt in California?
It will depend on the specific type of debt. Written agreements, including Promissory notes and open ended accounts (credit cards) are set at 4 years in California. Oral agreements have just 2 years to file suit.
Debt generally doesn't have a statute of limitation. Of course debts have a statute of limitations. In Washington state it is 3 years or 6 years, depending on the debt. Check out Washington law RCW 4.16 for more information. Every state has a statue of limitations on debt, which you will commonly see referred to as "SOL" when people write about it.
Does a credit card debt that has been passed to a debt collection agency need to be paid the original debt is from 1978?
Can a collection agency try and collect a bad debt after statute of limitation has been reached and if your spouse has made contact without your consent and they have sent a letter with the debt amous?
Hello, Please search in google for State Statute of limitation. I could have answered that, if i knew which type of debt it is and which type of contract you have along with your state. You should get the answer, there are a lot of websites that have State Statute of limitation. If it is past SOL (Statute of Limitation), then they cannot take legal action against you. Make sure to count the years correctly…
California Statutes of Limitation on Debt Collection: Written agreements: 4 years, calculated from the date of breach. Oral agreements: 2 years. The statute of limitation clock is stopped if the debtor makes a payment on the account after the expiration of the applicable limitations period. In some cases, the clock can also stop if you acknowledge ownership of a debt.
The question relates to a debt which is time barred and bar to recover time barred debt is created by the Limitation Act. The Limitation Act with regard to personal actions merely bars the remedy by suit, but does not extinguish the debt or demand. A debt does not cease to be a debt because its recovery is barred by the statute of limitation. Limitation extinguishes the remedy but, except in the case covered by…