Legal Question in Business Law in New York

Re: business/collection

The statute of limitations depends on the debt. Does a money judgment against the debtor already exist? Has there been any bankruptcy in the debtor's past (and, if so, was the debt properly listed)? What state law governs the debt (it may not be New York)?

Information can indeed get lost when a debt is handed over to a collections agency. Happens all the time. I had one instance where a bankruptcy properly listed a debt, and the debt was thus discharged. Three years later, the collections people came collecting ont that debt after the debtor. We simply asked them why they were trying to collect on a bankrupted debt. It was a LOT of fun to watch them squirm under that one!

Best regards,

Nancy Delain

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