Canthe statute of limitations for credit card debt be re-started?
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Canthe statute of limitations for credit card debt be re-started?
My credir card debt is past the SOL. However, I contacted them a couple years ago to settle. Does that re-start the date for the SOL?
Asked on October 4, 2010 under Bankruptcy Law, Colorado
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Yes it can. Certain actions can restart the debt statute of limitations on a dormant account, including: acknowledging that you owe the debt making a payment or partial payment making an agreement to pay/entering a payment plan making a charge on the account If the clock on the statute of limitations restarts, it starts back at zero. This gives the creditor or collector more time to use the court to force you to pay the debt. However, the law relating to this varies from state-to-state. You should place a call into a local attorney or your state's attorney general's office or department of consumer protection for further information.
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