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Mls45 · Posted: Tue Sep 02, 2008 5:30 pm Subject: Statute Of Limitations Question

Hi Forum,

Quick question for you.

I just learned about the statute of limitations for debt collections by reading the forums here.

If i am paying back a collection agency for an amount and that amount is not paid off within the 4 yrs in my case st. of limitations what exactly does this mean? That they cannot sue me for the balance? I am sorry this is just so confusing.

Posted: Tue Sep 02, 2008 10:09 pm Subject:

Statute of Limitation starts ticking from the date of delinquency, ie. the date of non-payment of debt. If you make any payment before expiry of the SOL, then the SOL is reset and it starts again from the date of the next delinquency.