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Tag Archives: statute of limitations

7 Things You Need to Know About the Statutes of Limitation for Debt


If you have old unpaid debts, it can be helpful to know the statute of limitation that applies to those debts. If the statute of limitation (SOL) has expired, a debt is said to be “time-barred,” and a creditor or debt collector is not supposed to sue you to collect. Here are the seven most common questions we’ve received from readers ... Read More »

    The 2 Words Debt Collectors Don’t Want to Hear


    While much of the debt collection world is straightforward and, quite honestly, a little boring, some people in the industry treat it like a free-for-all. “There are widespread attempts to add charges to debts that aren’t legal. Excess interest is something we’ve encountered quite frequently,” said Daniel Edelman, consumer law attorney, founder and partner at Edelman, Combs, Latturner, & Goodwin ... Read More »

      Why Have My Private Student Lenders Not Sued Me Yet?


      “Dear Steve, I went to a public school and obtained 2 degrees. A good portion of my student loan debt were in private loans. The economy crashed in 2008 and I couldn’t find work in 2009 so I went back for more education to hide from the economic realities (I had no way to pay on the loans). Sallie Mae ... Read More »

        Student Loan Statute of Limitations is Perplexing

        law books

        “Dear Steve, My fiancée has over $60k in private student loans. The original amount borrowed was $35k she is a teacher and always thought the student loan forgiveness program would apply and we discovered it doesn’t We have calculated that she cant afford to pay the minimum payments and reduce the balance. Her last payment was May 2014, I read ... Read More »

          The Statute of Limitations Has Expired on My Sallie Mae Student Loans

          closeup of a gavel on cash, from above

          “Dear Steve, I took out 4 student loans in 2005, 2 Federal and 2 Private. I am current and making payments on the Federal, but my 2 private loans with Sallie Mae have more than tripled in size since 2007. Sallie Mae is trying to say I made a payment in 2009, but there is conflicting information on my credit ... Read More »

            Can a Credit Union Chase Me to Another State for an Old Debt?

            Adult Ed - Questions

            “Dear Steve, I have a debt from a local credit union in Texas. Last payment made December 2009. My credit reports shows it as collection/charged off. However they still show a balance. The Texas SOL is 4 years. I have not lived in Texas the whole time, I have lived in Florida and Texas since then. I have kept the ... Read More »

              CFPB and FTC Want Debt Collectors to Tell You When They Can’t Sue

              Black Leather Flogging Whip and money on white background. Not i

              On August 14, 2013, the CFPB, jointly with the FTC, filed an amicus brief in Delgado v. Capital Management Services, LP, et al., a case on appeal to the Seventh Circuit. The brief urges the Seventh Circuit to affirm the district court’s refusal to dismiss a class action complaint alleging that a debt collector’s letter offering a settlement of the ... Read More »

                I Work for a Debt Relief Company and Have a Question About a Client. – Chris

                Adult Ed - Questions

                “Dear Steve, I work for a debt settlement company. A client believes he is free from debt after 4 yrs if they havent collected. Is this true? Chris” Dear Chris, I’m very happy to assist you to help this client. I believe the client is talking about the statute of limitations. The only states it is four years are California, ... Read More »

                  Which States Statute of Limitations Applies to My Old Debt? – Brooke

                  Magnifying Glass - Q&A

                  “Dear Steve, I purchased a van in Florida back in July of 2005. I did a voluntary repossession in February of 2007 in Virginia, after the bank would not wait two days for my first paycheck to clear my checking account (was two months behind). I never heard anything further from the bank after that (I realize now I should ... Read More »

                    Debt Relief Companies and Time-Barred Debt. New CFPB Rules.

                    Screen Shot 2012-10-29 at 12.55.35 PM

                    The Consumer Financial Protection Bureau has put out an examiners guide for debt collection agencies. Much of the information is of less interest to debt relief companies but one small section creates an important issue that debt relief companies should pay attention to. In the past we’ve written about the inclusion of time-barred debt in debt relief programs, including credit ... Read More »

                      I Just Received a Summons From Bank of America. Can I Use the Statute of Limitations as a Defense? – Chris

                      Ready to Collapse

                      “Dear Steve, I just received a summons that I am being sued for what looks like an old Bank of America credit card debt (amount over $10K). This is by a collection agency that purchased the debt, and they are using a legal firm to do this. The state is Idaho. Both the collection company appears licensed to do this ... Read More »

                        I’m Being Sued for a Debt From 28 Years Ago With My Ex-Husband. – April

                        Ready to Collapse

                        “Dear Steve, Divorced 24 years ago. Being sued for credit card debt from 28 years ago. Judgment filed against me in 1992. My x-husbands and my name are listed as defendants, “et al”, but only my name appears in the body of the judgment. My x-husband was the applicant and I was the co-applicant. I have no recollection of this ... Read More »

                          Noteworld Could Not Settle My Discover Account and I Now Think It’s Expired Under the Statute of Limitations. – Mary

                          Ready to Collapse

                          “Dear Steve, I was with Note World Settlement for a long time. After them not being able to settle with Discover after 7 year. They told me Discover could NOT do anything to me any more (staute of limiation law) I live in WI. Now I got a bill from Discover for the full amount do now!! what do I ... Read More »

                            I Owe a Debt from 7 Years Ago and Just Gave Them a Payment. Will I Still Owe the Debt? – Rachel

                            Ready to Collapse

                            “Dear Steve, I just got a you must pay in full from a debt collector company, I was researching and I believe the statute of limitations on medical bills for the state of Idaho is 7 years. So my question is my outstanding medical bills are from 2005, and I have just now gotten something from this company that they ... Read More »

                              I Moved to Virginia from New Hampshire and I’m Being Sued for An Old Credit Card Debt. – John

                              Ready to Collapse

                              “Dear Steve, I have a court,in May. I moved to Virginia from NH about six years ago. This debt orginated in NH, the debt is from a credit card from about six or seven years ago. I know that a debt can be transfered from one state to another. I would like to know to how far back on a ... Read More »

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