Legal Question in Credit and Debt Law in Nevada
hello. I recieved a letter from RJM acquisitions LLC. The letter stated they purchased my account in September of 2007. The account in question is an account I do OWE money. My question is does the statue of limitations play a part in this. The account was closed back in 2006. Thank you
This is the statue of limitations for California
Written agreements: 4 years, calculated from the date of breach.
Oral agreements: 2 years.
The statute of limitation is stopped only if the debtor makes a payment on the account after the expiration of the applicable limitations period.
1 Answer from Attorneys
The statute of limitations does not act as a way to stop a creditor from trying to collect. It is only a legal defense to a court action. If you don't actively respond to the court action with your legal defense - guess what! The creditor gets a judgment that is as good as gold for collection & the statute of limitations no longer applies!
So be careful!
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
