Statute of limitations on debt collection?

Question

In NY, what is the Statute of limitations on debt collection in case the debt is a result of fraud?

I am the creditor. I was defrauded big time and was not paid compensation for a great deal of work. My question was is there a Statute of limitations on my attempts to collect the debt (like 10 years or so), if the defendent has no money to pay and I will have to collect small amounts of money every month.

Answer 1

Lawyer here and a NY lawyer--

You haven't given enough information and the way your question is phrased I'm not sure what you are asking...there is no statute of limitations applicable to debt collectors, only as to debts. Now if you are talking about oral, written contracts, promissory notes or open accounts (and that would include a credit card revolving charge account) the statute of limitations applicable to a suit to collect the debt is six years.

The NY statute of limitations starts to run on a credit card account from the time the debtor becomes delinquent.

The statute of limitations does not prevent the filing of suit--you can still be sued, but you raise the statute as a defense.

You mention fraud, without giving any details, so I can't say what fraud you are talking about or whether it is fraud. However, if you were defrauded, that too would be raised as a defense to any suit against you and can also be raised as your own claim against your alleged defrauder--assuming the statute of limitations on fraud has not expired.

Finally, if you are talking about debt collectors, the statute of limitations will not bar them from trying to collect the debt. In fact, if you say the wrong thing to them, you can revive the debt and start the statute of limitations clock running again. So my first advice is don't even talk to them--when you do they try to get to you make statements that go against your interest and they record them in their business records which are admissible as evidence in a suit against you.

The creditor or collection agency may theoretically continue with letters and telephone calls forever (although third-party collectors are subject to the "cease and desist" provision of the Fair Debt Collection Practices Act.)

Below are a couple of links which might help you if your problem is credit card debt:

Answer 2

The time for the Statute of Limitations goes from the date of last activity (which is usually your last payment). That has looooong since passed if what you say is correct. This is what is called a zombie debt. They can pursue you for it, and they can even file suit against you for it, but if you answer the suit and cite the Statute of Limitations as an affirmative defense, they cannot win against you. Tell them to go pound sand. They can't win against you in court and you have no incentive to pay it, since it is off your credit report. If it shows up on your credit report, dispute it and it WILL fall off.