Legal Question in Credit and Debt Law in California
What is the statute of limitations on collecting a debt? Got a letter from a collection agency claiming to rep a bank and were acting on their behalf to collect a past debt, even now, two years later. I wonder what kept them frfom pursuing it so long. I recall the debt, yes, but am under the impression it had been paid. It's from a couple of years ago and I.m admittedly poor at record keeping especially after a debt has been paid.
1 Answer from Attorneys
The statute is two years for debts based on verbal agreements, and four years for written agreements (usually as with banks). Collection agencies often do send collection letters (even sue people) on paid debts, stale debts, you name it. You could pull your free credit report from annualcreditreport.com and see if the debt is already listed as paid.
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