Legal Question in Credit and Debt Law in New York

In NY, the statute of limitations for most debts is six years. If you know that no charges or payments were made within the last 6 years on this account, you may be able to defeat this creditor in the event they file a lawsuit against you. However, even if the statute of limitations has expired the creditor may still attempt to collect on the debt (they're just not supposed to sue you in court). With regard to your rights, generally, you can demand verification/validation of the debt, you can send a letter demanding that the creditor cease and desist communicating with you, you may be able to file suit against them if they violate the FDCPA, state collection laws or local collection laws... There are many other remedies to consider, each case is different. More information is needed to determine the best course of action in your case. Even if the statute of limitations has not expired and/or you are not able to sue the creditor, you may be able to settle the debt for much much less than you owe. I strongly recommend that you hire a collections attorney who represents debtors in New York. If you would like to discuss further, please contact me directly at 212-575-2683.