Legal Question in Credit and Debt Law in California

Statute of limitations to collect a charged off debt

Original credit card debt was charged off in 1994.

A paid $20 a month from 1/95 thru 2/2003-to a collection agency, it was less than an acceptable payment amount they said, but it was all I could afford & stopped harrassing me. It was sold several times to other collection agencies & the last in 12/2004. Now an attorney firm hired by the collection agency has sent a ''notice of intention to incur costs and legal fees by filing suit. We intend that this be a notice in compliance with the code of civil procedure section 1033 (b)(2). Is this debt beyond statute of limitations from 1994 or 2/2003? Is it 4 years from last payment or 10 years from 1994? If there's any balance its compounded interest/fees. Thanks.


Asked on 12/14/05, 3:37 pm

2 Answers from Attorneys
H.M. Torrey The Law Offices of H.M. Torrey

Re: Statute of limitations to collect a charged off debt

Unfortunately if you have been making payments thru 2003, the 4 year statute of limitations is inapplicable since it only begins running AFTER your last payment on the debt allegedly owed. However, you may have other rights herein, but we would need more details on the type of debt it is, how much, etc....If you would like a free consultation, contact us directly hereafter.

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Answered on 12/14/05, 6:14 pm
Robert F. Cohen Law Office of Robert F. Cohen

Re: Statute of limitations to collect a charged off debt

The four year statute of limitation begins to run after the last payment. I know of no 10-year statute. A debt will usually stay on a credit report for 6-7 years. Maybe that's what you're thinking of.

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Answered on 12/14/05, 5:24 pm


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