Do Creditors Have a Certain Amount of Time to Sue for Payments?
Yes. The first thing you should do is determine if the statute of limitations for collecting a debt in your state has expired. If the number of years has passed, the debt may be uncollectable. An attorney should be consulted about whether or not the original creditor or any assigned collection agency can still go to court to get a judgment for repayment of the debt.
Speak to an Experienced Creditors Rights Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local creditors rights attorney to discuss your specific legal situation.
Additional Creditors Rights Articles
- What are unsecured debts and how does an unsecured creditor collect on a debt?
- Does The Creditor Have To Have A Good Reason To Want To Settle?
- Can A Creditor Negotiate A Credit Rating?
- Where Does The Creditor Get His Profits?
