Statute of Limitations?

Question

I am being pursued for a small credit card debt from 1998. I heard nothing from the company and have made them no payment since then. I understand that this is covered by the Statute of Limitations as it is over 6 years old. However, the collections agency told me that as I had not informed my creditor that I had moved house, the Statute does not apply. Is this correct or are they trying it on with me? Thanks for your help

Answer 1

If it's small, why not just honor your obligation and commitment, and pay it, rather than wait it out and try to get out of it on a technicality. This can affect your ability to get credit for years.

Answer 2

Yes, they are right. If they do not know how to locate you, how can they chase the debt? The statute is there, so that people do not get penalised for a debt in which the body owed could not be bothered to chase in the first place, thereby giving the debtor the comfort that the debt had lapsed. Unless you have evidence that they knew your new address (through a credit reference agency or the voters role), you will have to pay. The other thing to note is that the statute does not relate to the debt, but to the last demand for payment, so your six year run is probably about to start again. I suggest you negotiate with them and offer to pay a percentage of the debt and close the case once and for all. Most companies will settle for 50%. No more restless nights. Free at last!

Answer 3

As a former collector I can tell you that what that collector told you is bull

the statute of limitations goes from the time the first payment was missed that led to the charge off forward

The Statute of limitations(SOL) is different for each state

The fact that the creditor didnt know where to reach you has no bearing on the SOL

The item can be reported for 7 years by the credit bureaus (which many confuse with the SOL)

The SOl is the amount of time the credit has to file suit against you and has nothing to do with the amount of time it can be reported to the credit bureau

Answer 4

I was unaware that the statute of limitations was over and done in 6 years. You better check that. I thought it was 7. And again I'm not sure but I thought it was longer for finacial stuff. 3 years for a parking ticket, 7 years for other crime, and 10 for $$$. I could be wrong. You may want to look that up to be sure.

Answer 5

I'm not an attorney-- but I'm pretty sure the statute of limitations does not depend on anything other than time. A friend of mine was in the same situation. If you have any attorney friends, you should get them to call the collector, just to let them know that you know the law, and they will probably leave you alone.

Answer 6

im not certain but I have heard of it and I believe that after a few years debts are written off, go to the CAB citizens advice bureau or debt advice they will clarify. I think they may have a point though as they are making it out that you have witheld information from them, its probably in the small print of your credit card procedures

Answer 7

Your situation is obviously very personal in the sense that it relates to your situation. Extremely difficult for others to know how to answer you, especially as there probably aren't any legal experts in here - although you never know?

Anyway I would say read the link I've given you. It's similar and hopefully will explain anything. Additionally I'd suggest speaking with your solicitor or possibly your local advice centre or CAB.

Good luck and hope it helps.

Answer 8

statute of limitations for creditors are confined to the social security number not housing, don't let them fool you. it's their last attempt to collect there money. on the other hand you did make the bill why not pay it??

Answer 9

In California, one can renew small claims judgements every 10 years. Do they have some sort of judgement against you? Don't know if this applies to routine debts like you describe.