old debt

by jeff

does estate need to pay old credit card debt that was sold to a third party? it ismy understanding that time barred debt can be disallowed.

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Oct 13, 2012
old debt
by: Debtcollectionanswers.com

When the statute of limitations on a debt has expired because the debt is so old, the debt is still owed but the person owing the debt can no longer be sued for the money. However, state statute of limitations laws can be complicated. Therefore, before you decide not to pay the old credit card debt, I recommend that you consult with an estate planning attorney who is familiar with the probate law in your state and who can tell you exactly how to handle that debt. To do that, go here Ask Estate Lawyers Now.

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