By Dan Samaria
Publisher/GCC
Oct. 23, 2009

Editor’s Note: There are many sites that can help you with dealing with debt. This site we use weekly with advice it called The Ask Doctor Debt.

They have answers to many frequently asked questions regarding debt and credit problems.

This week we will be giving you some FAQ that have been sent to their site. We hope that this will help you, in dealing with debt.

If you have any questions, you can reach us dan@goldcoastchronicle.com

 

(Q) Can debt collectors continue to try to collect a debt after the statute of limitations period has expired?    

(A) The statute of limitations dictates the amount of time within which a lawsuit may be filed against a consumer to collect a debt. Each state has its own statute of limitations, and the time frame may be different if the contract creating the debt is in writing, is verbal, or if the debt is a credit card debt or other kind of debt.Statutes of limitation start running usually on an account’s last activity.

Statutes of limitation may also stop and can be revived, depending on state law, with a partial payment or a written promise to repay the debt. In addition, the statute of limitations is often suspended if a consumer leaves the state, resides within the state under an assumed name, or is incarcerated.

According to the Fair Debt Collection Practices Act (FDCPA), when the statute of limitations has expired, a collector may continue to request payment on the debt, but the collector cannot threaten the consumer with legal action because the collector can no longer sue the consumer for the debt.

Source: Ask Doctor Debt