I thought the statute of limitations was only 7 years, yet I have gotten sued twice by two different companies after the original debt dropped from my credit report. I had a Capital One credit card back in 1999 and last activity was in July of 2000. I had lost my job and although it was only $200, I had to keep up with my mortgage, water, gas and lights the necessities now there is a credit recovery that bought the old debt and now they are taking me to court for $1481. They say it is because I had so many over the limit and late charges and interest over the last 9 years. They also said it will continue to earn interest if I don’t pay it. My question is is this legal?
You might want to contact a lawyer who deals in collections. Each state has different statute of limitations for collections; so, 7 might not be your number. And by activity do you mean charges on the account or attempts to collect? It’s likely the 2 lawsuits were filed within the allowable time and it they are probably legit judgments which could lead to garnishments, collection, etc. Have you actually been served court documents for this other $1481 collection?
You could have at some time re-initiated the start date of the statute of limitations or it could be, if you haven’t been served by the court, they are just threatening you. Either way, you might want to contact your local bar association to get in contact with a lawyer; the lawyer may even be able to give you a quick response over the phone.
I would consult a lawyer. As mentioned in a prior post the Statute of Limitations does vary by state. The longest time period is Rhode Island at 10 years, and the shortest
time period is at 3 years, with a lot of states being in the 3 year range.