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| statue of limitations Did you know that some states have a statue of limitations (sol)? I am in Texas. In Texas a bill collector is not allowed to collect debt if it is older then two (2) years. Not only this Texas doesn’t allow extra charges or interest rates to be added unless it was in your contract. Keep this in mind because a lot of collection agencies try to tack on extra charges ever chance they get. Check your state laws you might have more protection then you think!!!! |
| I knew that there is a statue of limitations on crimes and that sort of stuff but I never knew there was one on debt. |
| That's true. People should watch out for those collectors who collect extra charges or interest rates. Citizens should be keen enough to scrutinize some details with regard to their bill. I have checked some statute of limitations, which apply to open ended contracts for some states.It clearly presents that collectors must adhere to the policies in accordance to their contract. Otherwise, they can sue for a judgment. So it's important to verify all information. |
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