The statute of limitations (SOL) on debt is an important weapon in your arsenal against collection firms who are trying to sue you for a debt. The simplistic definition of SOL is this: the amount of time from date of last activity that a person or company has to sue you. Each state [...]
Entries Tagged as 'State Laws'
Improper Notification of Creditor Lawsuit Can Get Case Thrown Out
May 5th, 2009 · 14 Comments · Debt Collection, I'm being sued!
There has been a dramatic increase in creditor lawsuits flooding the courts in an attempt to collect bad debt since debt collectors have discovered phone calls are not making the grade. The increased volume has led to carelessness on the part of the debt collectors in the lawsuit process which can give the consumer [...]
Tags: complaint·judgment·lawsuit·personal service·posted service·proper service·service by publication·State Laws·summons·vacating a judgment
Which Statute of Limitations on a Debt is Applicable if I’ve Moved?
October 30th, 2008 · 15 Comments · Consumer Debt, Credit Counselor Front Lines, I'm being sued!, Legal Stuff
Just received this question from a reader:
Q. I had a collection that originated in 2004 in Maryland. The statute of limitations (SOL) was 3 years; 2007 came and went with no suit from the collection agency.
Now I live in a state where the SOL on a written contract is 6 years. If they can [...]
Tags: Creditor Lawsuit·Debt Borrowing·State Laws·Statute of limitations·Written Contract
