Legal Question in Business Law in New York

I used to send a certain bill collector a money order every month. I always asked them for a recipt of the money orders they did not send me one. Two years ago they sent me a letter asking me why I was sending them a money order. I owed them around eight hundred dollers they have not sent me a bill or contacted me in over two years. Is there a amount of time that if they no longer send bills as they have not in tow years that I am no longer legally in debt to them.


Asked on 11/03/11, 2:40 pm

1 Answer from Attorneys
Jason Medlin NA

Yes, there is a statute of limitations of six years from the date of default. However, if they sue you must still show in court and assert that the statute of limitations as your defense. Also, the clock on the six year time limit does not begin until "default." That is a legal term that means you broke your contract to pay them back.

Before court though, they may just try to ding your Credit Score. Have you checked your credit record to see if you still have that outstanding balance? This website has a lot of additional information that may help: http://www.nedap.org/hotline/dcbasics.html.

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Answered on 11/09/11, 1:27 pm


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