old debt

by jeff
(pa)

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.

Comments for old debt

Click here to add your own comments

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.

Click here to add your own comments

Return to Deceased Person's 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 - 2018 by Mary Reed and Gerri Detweiler.
All rights reserved.

Disclosure: We may receive compensation for marketing some of the services mentioned on this site. Above all though, our goal is to recommend products and services we believe can help our readers. You can learn more here.