Legal Question in Credit and Debt Law in Texas
The statue of limitations for a credit card debt in my state is 4 years.the account was charged off over 4 years ago.can I still be sued on this account if I have made partial payments to a collection co.? The payment arrangements were an oral agreement.nothing in writing was ever made , and now they are threatening a lawsuit.I live in Texas.
2 Answers from Attorneys
You making payments extends the limitations period. Charging off the debt doesn't have anything to do with the four-year statute of limitations.
If you can't pay, quit talking to collectors..write the creditor or collector "Cease and desist all contact with or anyone concerning this claim except in writing."...then if they call u or others, you have aclaim under fair debt collection statutes...but debtors too frequently try to pay a little ..when they can't pay all.
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