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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.

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.

Sub: #1 posted on Tue, 09/02/2008 - 22:09

phoenix phoenix
(Posts: 1445 | Credits: )

What state do you live in? When was the last time you paid on the account?

Sub: #2 posted on Wed, 09/03/2008 - 02:48

Moderators Cum Industry Expert
(Posts: 4671 | Credits: )

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