Legal Question in Credit and Debt Law in New Jersey
creditors
Does the statute of limitations start when you enter into the contract with a creditor or when the activity ceases on the payments? when do you start to count the years. In my state the sol is 6 years. and I started with this creditor in 1990 or 1991. and ceased payments in 2001 or 2002. I appreciate the information. Than You.
Asked on 11/19/06, 8:54 pm
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
Re: creditors
There are many things that can affect the running of a limitations period. A good working assumption is that the period starts to run when the first payment that was dishonored became overdue.
See also: http"//info.corbettlaw.net/lawguru.htm
Answered on 11/19/06, 11:41 pm