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When a debt collector buys your credit card debt, does that restart the statute of limitations?
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When a debt collector buy your credit card debt, does that restart the statute of limitations?
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When a debt collector buys a previous debt of yours, that does not in itself restart the statute of limitations on that debt. For a debt to be re-aged after it has exceeded the statute of limitations is for you to acknowledge the old debt by making a payment or some sort of activity of that kind. Once a debt has gone past the statute of limitations, debt collection agencies can continue to try to collect from you, but they no longer have the power to take you to court and sue you over the debt.
Posted by Jason Tong on 10 May 2010
1 person found this useful
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