Legal Question in Credit and Debt Law in Minnesota

Statute of Limitations on debt

I recently applied to get my credit report. Since then I have received several calls from a firm called Nelson Watson & Associates. They say that they have bought my debt from an old credit card and now I am obligated to pay them. If I don't they claim they will file a judgment against me. This old credit card debt does not appear on my credit report and it is over 8 years old. My question: Am I obligated to pay these people for a debt that is beyond the SOL? Is it legal to buy debt from an agency and try to collect?


Asked on 8/18/04, 5:30 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Statute of Limitations on debt

In MN its a 6 year SOL. Yes its legal to buy debt and collect it.

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Answered on 8/18/04, 7:37 pm


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