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Bank Sells My Debt to Collection Agency. Can I Be Sued?

by Christine
(Pueblo, CO)

If a collection agency is bugging me can I be sure I can no longer be sued by bank? Can only the original lender can sue you? So if they sell it to an agency you can wait it out?

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Bank Sells My Debt to Collection Agency. Can I Be Sued?

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Sep 03, 2011
 Bank Sells My Debt to Collection Agency. Can I Be Sued?
by: Debtcollectionanswers.com

The debt collection agency can sue you for the money that you owe, assuming that the statute of limitations on the debt has not run out. If it has, then the agency can try to collect from you, but it cannot sue you.

You did not indicate the nature of the debt in question and I am not an attorney, but my resources show that if the debt is credit card debt, the statute of limitations on it in CO is 6 years. The 6 years begins on the date that you first stopped paying on the card.

If you want to become more informed about what debt collectors can and cannot do to collect from you and the options you have for responding to them, I recommend that you get our ebook Debt Collection Answers. You can read the first chapter of Debt Collection Answers online for free.

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