If the loan was taken out in 1996 and the debt collecting agency….

If the loan was taken out in 1996 and the debt collecting agency contacted the client by phone for payments but no acknowledgment was made until 2006 then is this debt Statute Barred or is creditor has right to ask for payments.

Asked by: alveena cossor 1020 days ago - 1 Answers - 1414 views

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It depends on many variables. For instance, is the debt a contract or credit-card. Do you have a clue if their is a judgement placed on the debt. One last thing, whether the debt is time barred meaning that the creditor or debt buyer can no longer take the matter to court, it is still a debt owed and attempts to strike it off from your credit report will be a lot harder than if you would have bargained or negotiated from the beginning.

Answer by Curious George 836 days ago

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