Legal Question in Credit and Debt Law in Michigan

old debt

In 1993 I stopped paying one of my credit cards, the bank send me collection letters that I ignored then, Just recently I received a letter from a different company stating that they purchased my account and thay are requesting that I pay the debt. does the statute of limitation apply here to cancel the debt ?. I must also mention that for the last 10 years I have not recieved any collection letters regarding this debt, but just three months ago I recieved a letter from this new company, Am I liable for the debt ?, please advise, thank you for your time.


Asked on 7/10/05, 5:07 am

1 Answer from Attorneys
Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC

Re: old debt

The statute of limitations is 6 years. However, any payment or reaffirmation of the debt will cause the statute to begin to run anew.

Call me if you need my assistance at (248) 679-1552.

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Answered on 7/10/05, 9:06 am


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