Legal Question in Credit and Debt Law in California
I have a collector attempting to collect a debt that was 120 days past due in September of 2005, according to my credit report from freecreditreport.com. Also, according to my credit report there were key derogatory notations, that's the terminology the web site uses, on the account until July of 2007. Is this past the statute of limitations? What date constitutes as the beginning point in determining the statute of limitations, the last payment, the charge-off date or another factor? I reside and the debts are in California.
2 Answers from Attorneys
The statue began running when you failed to make a payment due. It sounds as if a lawsuit would be time-barred.
I agree with Robert sounds like the statue has run. The statue starts on either last payment or last charge. If is over 4 years and they haven't filed suit then they are out of luck. You should demand that they remove the derogatory remark from your credit report as the debt is time barred too.
Good luck and hope that helps.
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