Legal Question in Credit and Debt Law in New Jersey

Law suit filed Is Banruptcy the best option?

A creditor has just filed a law suit against me for an account 7 years old. According to my credit report it has been charged off and sold. I read somewhere that depending on the state, after a certain amount of years a creditor can no longer enforce the debt in court. I was wondering how NJ stands on this issue. Also, is bankruptcy a valid option for me? I am unemployed and very much in debt. Any advice would be much appreciated. Thank you in advance.


Asked on 12/12/04, 7:12 pm

1 Answer from Attorneys
Glen Chulsky Law Office of Glen H. Chulsky

Re: Law suit filed Is Banruptcy the best option?

Depending on the type of account, there is a statute of limitations (time period) in which a creditor can bring a suit. If the suit is brought outside that time period, then generally you would have a defense to the suit. In addition, if this was a consumer account, then not only would you have a defense to the lawsuit but it is possible that you would have a claim against the attorneys who filed the suit under the Fair Debt Collection Practices Act. as such, you may be entitled to statutory damages up to $1,000, any actual damages and attorney's fees. Feel free to contact me for additional info at 973-659-9045.

www.njconsumerfraudlawyers.com

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Answered on 12/13/04, 11:03 am


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