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

Read more
Answered on 11/19/06, 11:41 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in New Jersey