Are these ten year old debts still valid?
I just started a new job and part of it is to try to collect on invoices that are over 10 years old. Do these clients even have to pay debts so old?
Reply from DebtCollectionAnswers.com:
You are right to be cautious. These debts could be outside the statute of limitations, depending on the type of debt and state law. If these are consumer debts, trying to collect could be illegal under some state's consumer protection laws. (There aren't always the same restrictions on trying to collect old business debts, but state laws do vary.)
Your wisest move would be to suggest your employer check with an attorney before asking you to reach out to these debtors. And he or she probably shouldn't set their expectations too high. Debts this old probably can't appear on credit reports and if the statute of limitations has expired, there may be little that can be done to force the debtor to pay.
Click here to post comments
Return to Debt Collection Questions.
Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2016 by Mary Reed and Gerri Detweiler.
All rights reserved.