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Can a collection agency attempt to collect on a debt that is almost 10 years old?In: Debt Collection |
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Answer
Yes, with 10 years interest.
Answer
What about statute of limitations?
Answer
Well, they can sure TRY, but I wouldn't worry about it too much. And if it becomes a case of where they are harassing you, YOU most likely have the more powerful position at this point and can take steps to halt their harassing ways. After the statute of limitations has expired (check with your state to find out exactly how long this is), there is very little legal recourse the collection agency has to collect on the debt owed. Once it has become outdated and removed from your credit report ( after 7 years), it can never again be reported (LEGALLY).
I can tell you, I have one now trying to collect a debt that is back from 1991 AND had actually been paid to the original lender. They (collection agencies) are like a bunch of sharks!
First answer by Rfor. Last edit by Hipokets. Contributor trust: 84 [recommend contributor]. Question popularity: 111 [recommend question]
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