credit card collection

iVillage Member
Registered: 03-18-2010
credit card collection
Thu, 03-18-2010 - 4:51pm
A debt collection agency has been calling me over a debt that was charged off 10 years ago. I told them to send all the paper work they have and that I did not believe that I owe the debt. I told them that there was a time limit on collecting old debt and it has past. They told me every time they sell the debt the time limit restarts. Is this a debt that I should pay or be worried about after so long? Does the statue restart every time a collection company sells the debt? How do i resolve this without court?
Community Leader
Registered: 03-17-2003
Thu, 03-18-2010 - 5:54pm

You are referring to the Statute of Limitations (SOL) for debt collection.