Legal Question in Credit and Debt Law in California
Statute of Limitations
Hello,
I have received conflicting information on CA law regarding the limit on collecting debts. Specifically I'm referring to credit card debt that was written off in 1993. I recently received a notice of intent to collect that debt. Am I still liable for repayment of the money?
On a related note, can I expect the negative credit information to disappear from my credit report next year?
Thank you.
2 Answers from Attorneys
Re: Statute of Limitations
The longest statute of limitations that could apply to
the credit card company's claim against you is 4 years.
However, there are many situations where that term
can be extended,so you should consult with an attorney.
Re: Statute of Limitations
In reply to your inquiry, let me offer the following:
I agree with Mr. Genser, both on the 4 year statute of
limitations, and the fact that the statute can be extended
under certain circumstances, such as making a
payment, or a new promise to pay.
You should contact an attorney in your area for a
consultation. Ideally you would talk to an attorney
that specializes in debtor-creditor, or consumer
law.
Best of luck, and feel free to let me know if you have
questions or comments. Now, let me give the
"de rigeur" caveat:
The foregoing information is provided as an
accommodation only, and does not constitute legal
advice or a legal opinion based on a comprehensive
review of all relevant facts and documents, nor can
provision of such information be construed as
creating an attorney-client relationship.