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What are the chances that a creditor will sue you just before the statute of limitations runs out?

In: Auto Loans and Financing, Repossession, Statutes of Limitations [Edit categories]

Answer:

Answer

The decision to sue a consumer to recover debt within SOL is often made with collectability and profitability in mind. The collection agency would consider the amount of the debt, whether or not the consumer had any real property, bank accounts, and/or income which could be garnishd. The "chances" would be greater if the answer is yes.

First answer by ID0000000000. Last edit by ID0000000000. Question popularity: 141 [recommend question].

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