The limit on a recorded debt in Washington is set at 6 years. The start of that time frame is the last acknowledgement of the debt, which is a payment or communications.
The statute of limitations is how long a collection agency can collect and sue or the debt. It makes no difference how much or how little the amount is. The only limitations are time.
Yes, there is no statute of limitations on debt.
yes it is an option for them
The statute of limitations starts counting immediately when you made the last payment to either the credit card company or the collection agency. If you ever make a payment to either of them the statute of limitations will start over. If you have not made any payments to the credit card company recently and the credit card company sells the debt to the collection agency, the collection agency's statute of limitations will be from the date that you last paid the credit card company. Furthermore, if the statute of limitations is over and the collection agency continues to keep collecting the debt, you can send them a letter (certified is the preferred method) to stop all contact with you. Under the Fair Credit Reporting Act (FCRA), they would be required to stop immediately upon receipt of the letter (unless they are taking legal action in a court then they can send you legal notices only). If they do not stop, you are entitled to collect monetary damages as outlined in the FRCA. This does not stop the collection agency from reporting to your credit report. Your credit reporting falls under a different set of rules which basically removes most collections debts (except for court judgements) after 7-10 years.
If the statute of limitations has expired, the collection agency is just blowing smoke. Tell them that you know the statute of limitations has expired and they have no right to harass you.
There is a federal law entitled the FDCPA. Any time you have a collection question you should search for the answer there first. An agency can attempt to collect the debt that is out of statute but they have no way of legally enforcing payment. Many times a person will pay an outstanding bill when its out of statute because they are not aware there are statutes of limitations. Sometimes a bill collection company will not even know that the statute tolled on the debt. Many times the client does not give the agency proper information purposely or by accident.....
In Washington state, a collection agency can potentially file for a judgment as soon as they have exhausted other debt collection methods and the applicable statute of limitations has not expired, which is generally six years for most debts. However, the timeline may vary depending on the specific circumstances of the case. It is advisable to seek legal advice if you are facing a potential judgment from a collection agency.
Indefinitely!! However that "statute of limitations" is different per state. These limitations prevent an agency from suing you or reporting your debt to the credit bureaus if the age of the debt is too long. Here's the limitations per state: http://www.nolo.com/legal-encyclopedia/statute-of-limitations-state-laws-chart-29941.html Experience: I own a collection agency.
The limitation is 3 years. The start of that time is the last acknowledgement of the debt, which could a payment.
The statute of limitations starts on the date of the last activity on the account. So, making any payments at all restarts the statute of limitations period. In Wisconsin, the statute of limitations is 6 years. After that, they cannot collect.
One thing you can do it contact the credit reporting agency that is showing it andtell them you want to dispute it. They have a number of days, 90I think, to send you a form and follow up.
In Ohio, the statute of limitations for debt collection lawsuits is six years for most types of debts. After this time period has passed, the debt collector cannot legally sue you to collect the debt.