Legal Question in Credit and Debt Law in Minnesota
Statute of Limitations of Debt
I was told that there was a Statute of Limitations on Debt and that it was four years. If this is true where can I find this information. I owe/owed a college some money and I was contacted by a lawyer and I made an offer for monthly payments. He said he would get back to me after he spoke with the college. I didn't hear anything for four and a half years. Then a collection agency called me asking for the money. I in good faith made an offer for monthly payments I could afford and no reply was given. Now this is on my Credit report and I am getting phone calls and letters demanding this money. Is there a statute of limitations?
2 Answers from Attorneys
Re: Statute of Limitations of Debt
Even worse than that - If you make an offer to pay, you may revive the debt, even if the statute of limitations has run.
If you can't afford a lawyer, try your local legal aid society. Msot bar associations also have a panel of lawyers who will work for a reduced fee.
Good luck!
Susan Freiman
The Legal Clinic
P.O. Box 9407, Herzlia Street 29
Re: Statute of Limitations of Debt
I don't know your state's laws, but a quick summary
of statutes of limitations that I have on my wall shows
a 6 year statute in MN for contract obligations.
You'd better call a local attorney!
Stuart Williams
Law Offices of Stuart J. Williams
21 Walter St.