2006-07-26 06:09:29 · 7 answers · asked by creative_angel_3 1 in Politics & Government ➔ Law & Ethics
The reasons you're getting a lot of different answers is because each state has it's own statute of limitations. In my state the SOL is not reset once the account is bought by another company. Creditors have 10 years to bring a case, then they are barred from bringing to case unless the debtor signs an acknowledgment.
You can find the SOL in the state code. Good luck!
2006-07-26 06:36:06 · answer #1 · answered by jeannieunderwood2003 2 · 0⤊ 0⤋
Yes, it can be 'reset' by various means. The first way of which I'm aware is how the former debtor responds to the collector's demand (they say ante up and you say I don't owe you anything construes a conflict which may have to be heard by a court) and is relative to statute. The second way is for a creditor to somehow get the past due account onto your credit record, although this way doesn't mean its been 'reset' it will affect you adversly untill you can have it removed. For both instances I'd suggest you consult an attorney, the bar association for your city would be a good place to look for a referral.
2006-07-26 06:27:20 · answer #2 · answered by wyrdnews 2 · 0⤊ 0⤋
NO ITB SHOULD DEFINATELY STAY THE SAME GENERALLY ITS 7 YEARS.WHAT AGENCY IS IT. THERE ARE A COUPLE THAT RUN A SCAM AND BUY OLD COLLECTIONS AND TRY TO GET PEOPLE TO PAY ON ONES OVER 10 YEARS AND SO FORTH
2006-07-26 06:16:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I didn't know limitations had a statue....I had heard of the statute, but not a statue...is that in a museum somewhere?? :)
2006-07-26 06:12:47 · answer #4 · answered by Julia L. 6 · 0⤊ 1⤋
It's "statute" not statue. No, not unless you start paying them.
2006-07-26 06:13:29 · answer #5 · answered by miketorse 5 · 0⤊ 1⤋
In some cases it seems.
2006-07-26 06:55:49 · answer #6 · answered by midnightdealer 5 · 0⤊ 0⤋
if its past 7 yrs they can not get anything from you
2006-07-26 06:13:11 · answer #7 · answered by SHELIA S 3 · 0⤊ 0⤋