4 - What can you do if you are sued by a collection agency?

4. Raise the Statute of Limitations as a Defens

In the majority of states, creditors have a maximum of four to six years to sue to collect a debt. After that, the statute of limitations expires. That doesn’t always prevent collectors from suing, however, because they are counting on borrowers failing to show up in court. If the statute of limitations has expired, and the borrower issues that as a defense, the collector will lose. Making a payment on an old debt may start the clock ticking all over again, though, so a debtor should get legal advice before making a payment on a very old debt.

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