By
Bankrate
When
dealing with an old debt, it's important to know
your limits.
Ince a debt passes
beyond the statute of limitation in your state,
a debt collector no longer has the right to sue
you for payment. You may still have a moral
obligation to pay back an old, forgotten debt,
but you can't be sued over it.
Any debt collector
who threatens to sue you over a debt that is
beyond the statute of limitation in your state
is in violation of the Fair Debt Collection
Practices Act.
The chart below
offers a state-by-state roundup of statutes of
limitations for delinquent debt. Credit cards
are considered open accounts. If you're being
hassled about an old debt, the chart below is a
great starting point and was accurate as of the
date it was published here.
If you need legal
assistance with a delinquent debt, visit the Web
site of the National Association of Consumer
Advocates and search for an attorney with
expertise in debt collection in your area.
To find your
state's attorney general |
