Consumer Attorneys Guiding You Through Fair Debt Collection

Statute of Limitations for Debt Collection

Your Rights under the Fair Debt Collection Practices Act

When it comes to the length of time you are subject to the collection of a debt, knowing your rights is important. This amount of time can vary depending on the type of debt you have and the state where you live. At SternThomasson LLP, our consumer protection lawyers can provide you with insights and resources to help you find out if the statute of limitations on your debt has expired and advise you on your next steps.

Limits to Legal Action

Did you know debt collectors have a set amount of time to take legal action in order to recover a debt from you? A statute of limitations is the timeframe during which debt collectors can take legal action or file suit against you in an attempt to recover your debt. Once the statute of limitations for debt collection is up, a debt collector can no longer take legal action against you for nonpayment. While this does not mean that you no longer owe the debt or that the collector is not allowed to contact you about it, it does mean that the collector cannot use the court system against you.

Credit-reporting timelines are separate from the debt collection statute of limitations, which means that delinquent debt may still be on your credit report even after debt collectors are no longer allowed to take legal action. Debt collectors or debt buyers may try a number of tactics in an attempt to extend the statute of limitations for debt collection, so it's important to understand these differences.

You might accidentally restart the statute of limitations by:

  • Beginning a new payment plan for the debt
  • Making a payment after a period of nonpayment
  • Making new charges to the account for which you own the debt
  • Acknowledging your responsibility for the debt
  • Agreeing to a settlement for the remainder of the debt

    How SternThomasson LLP Can Help

    Statutes of limitations vary for people depending on location, type of debt, and individual situation. Before you take action to resolve an old or delinquent debt, get the information you need to make the best decision. Our consumer protection lawyers have the resources and experience to guide you in this matter. If you believe the statute of limitations is up on your debt, we can help you understand your options and enforce your rights.

    Why Choose Stern•Thomasson LLP

    • Nearly 60 Years of Combined Legal Experience

    • Client-Oriented, Results Driven Representation

    • Well Respected in the Legal Community

    • Personable, Thorough and Easily Accessible

    Have you been contacted by a debt collector? Are you in need of reliable information and sound advice? Are you confused as to where to even start?

    At Stern•Thomasson LLP, we are here to help consumers enforce their right to fair debt collection practices by being a resource for useful materials and providing our legal expertise to you to protect your rights, helping you to navigate through the rough water that is your current financial situation.

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