payday loans

Technically, there is no time limit for collecting any debt. However, every state has a statute of limitations that dictates how long a creditor has to file suit. But they can keep calling, mailing, etc. after that expires subject to any applicable debt collection laws.

Most internet payday loans will stop the hot and heavy collection tactics after a few months. After that it's just the occasional phone call or e-mail unless they sell it and the new owner starts the whole process over with. Storefronts are usually more persistent but also more conscious of the statute of limitations. Some chains have policies where they don't sue anybody because it's too expensive, can cause bad public relations and doesn't work much better than regular collections. But a lot of Mom-and-Pop check cashers sue everybody because they can just run it through small claims with the rest of their bad checks and because they aren't as well-financed as the chains are more motivated to file suit.