Legal Question in Credit and Debt Law in South Carolina

statute of limitations on consumer debt

I took out a loan in last of 1989.It was set up to be paid in installments over a 4 year period. I paid less than a year on this loan--it has been over 13 years since I have paid anything on this loan. Now a collection agency has contacted me for payment of this loan plus interest .

has.nt the statute of limitations expired for tis loan?

can a judgement be placed against me and won?


Asked on 8/16/03, 8:38 pm

1 Answer from Attorneys
Otto Ferrene, jr. Ferrene & Associates, PA

Re: statute of limitations on consumer debt

The statute of limitations applies to any consumer debt more that three years old.

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Answered on 8/17/03, 9:41 pm


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