Under the statute of limitations how long does a creditor have to sue me?

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Under the statute of limitations how long does a creditor have to sue me?

8 years ago I signed an agreement for a private student loan. The original amount on the loan was $4500 and I paid it down to about $1000. Then 4 years ago the account went into default and I did not hear from the lender again. I recently received a call from a collection agency and they say they took it over received 2 years ago. They want to sue me unless I pay them $3300 right now, and say that I owe them $4450.

Asked on October 13, 2011 under Bankruptcy Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

In California the statute of limitations for a person to file a lawsuit for breach of a written and signed contract of for common counts (benefits expended for a person) is four (4) years from the date of the breach of the written agreement or from when the time when the money was due to be paid.

If no lawsuit has been filed by now against you it appears from the facts that you have written regarding your question that your defaulted obligation to the lender would be time barred under the applicable statute of limitations in California even if a lawsuit against you is filed. If you get sued for this obligation, your best defense would be the time bar of the statute of limitations.


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