Legal Question in Credit and Debt Law in Pennsylvania
My boyfriend received a phone call from a company claiming to have a legal action.pending against him. It seems to be that it is for an unpaid bank loan from over 10 years ago. The company is claiming thay they have exhausted all efforts to reach him though we have never received anything in the mail or any phone calls in the time since the loan. They want us to agree to payments over the phone or risk this being taken to court. What steps should we follow if any? And is there a statute of limitations in Pennsylvania on this type of thing?
2 Answers from Attorneys
People do not give you a courtesy heads up phone call that their is a legal action pending. You will know if you are sued when you are either served with a complaint or letters from lawyers who want to solicit your business start arriving in the mail.
Absolutely NO payments! Collection of this debt is most likely barred by the statute of limitations. Any partial payment now will re-set the statute. Please, consult a lawyer before your boyfriend makes a tragic mistake. I give free email consults and charge $75 for a 30-minute phone consult. Have your boyfriend contact me at [email protected] if interested.
The statute of limitations in PA is 4 years for most loan debts. If he stopped paying over 10 years ago, then not only has the statute of limitations expired but this debt cannot even be listed on his credit report.
Agree with previous answer. Statute of limitations is 4 years. Do not agree that you owe it or make any payment. Their tactics are also most likely illegal. You may be able to sue them for violation of state and federal collection law. If you need further advice feel free to email me.
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