Legal Question in Credit and Debt Law in New York

When a person defaults on a loan (not a home loan), an unsecured line of credit, for example, and if the defaulted loan is referred to a collection agency, does the statute of limitations become extended if you make a payment to the collection agency after the default date of the original loan?


Asked on 6/09/12, 7:01 am

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Yes. Each payment extends the S of L.

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Answered on 6/09/12, 7:48 am


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