Friday, January 14, 2005
Statute of limitations
Regarding the statute of limitations on a debt, CREDITWRENCH has stated:
Although the statute of limitations on a debt may have passed, it does not preclude a creditor from filing suit and obtaining a judgment against you. If you do not appear in court, they will obtain a default judgment against you. Even if you do appear in court, you must raise the defense of the debt being time barred, otherwise they can also obtain a judgment against you.
CREDITWRENCH stating that it is not possible to obtain a judgment on a debt that is past the statute of limitations is false and misleading.
"Your credit card debt never expires. The statute of limitations expires which means that it is no longer possible to file a judgement against you on the debt".
Although the statute of limitations on a debt may have passed, it does not preclude a creditor from filing suit and obtaining a judgment against you. If you do not appear in court, they will obtain a default judgment against you. Even if you do appear in court, you must raise the defense of the debt being time barred, otherwise they can also obtain a judgment against you.
CREDITWRENCH stating that it is not possible to obtain a judgment on a debt that is past the statute of limitations is false and misleading.
