Legal Question in Credit and Debt Law in Nevada

If you continue making payments, the last date on which you make a payment could be looked at as the last time you complied with the contract. Once you stop paying, that might be viewed as the date you breached the contract. That date might be used to 'age' your debt. However, these 'institutions' keep re-aging debts, re-selling debts. In Nevada a written instrument can be sued on - based on the statute of limitations - for six years from breach of the contract or from some other date in the contract. However, keep in mind that these institutions aren't really all that bothered by such things as laws. They do what they want and see if you have enough money and evidence to sue. They will sell your debt to a third party in say, India, to call and harass you. They sell these debts for pennies on the dollar or a penny or less on the dollar. These debts seem to have a life of their own.