Sunday, January 30, 2005
Collection of a time-barred debt
In advice to a debtor who was being contacted by a collection agency on a debt outside the statute of limitations, CREDITWRENCH CEO Bill Bauer stated:
"First of all they are breaking the law in even attempting to collect a debt that is outside the Statute of limitations."
While being time-barred can be both an affirmative and absolute defense should a lawsuit be filed on the debt, it is not against the law for a collection agency to continue collection efforts.
