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If I respond to a debt collection agency does this start the Statue of Limitations all over again?
If I respond to a debt collection agency does this start the Statute of Limitations all over again?
All Debt Negotiation Questions & Advice
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Can debt relief services affect your credit if you use them to lower your interest rate?If I respond to a debt collection agency does this start the Statue of Limitations all over again?
If I respond to a debt collection agency does this start the Statute of Limitations all over again?Is debt settlement a good option or is it just a ripoff?
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Please help. I’m self employed, and last year, what with the recession, my income fell by almost 70%--my typical clients just weren’t spending m...This site does not provide legal advice and users of this site should not interpret any of the information presented here as legal advice. The information provided merely conveys general information related to commonly asked legal questions. We are not a law firm and the employees responding to questions are not acting as your legal attorney. You should ultimately consult with a Lawyer for your case.
Answers
It depends on what you mean by responding to the debt collection agency. If you are just referring to some sort of communication to interact with the debt collection agency, then that act alone should not restart the Statute of Limitations. What is required to restart the Statute of Limitations is acknowledging the debt, in most states a payment being made is required. However, since you do owe debt, not responding to a debt collector could lead to them suing you and winning a judgment. Your best bet is to try to settle the debt with them, and depending on how much time is left on the Statute of Limitations you could settle for half or less.
Talk to a Debt Settlement Lawyer to find out what legal options you have to handle the debt or settle it for a small amount.
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Posted by Jason Tong on 01 Jul 2010
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