This information is referring to collection debt SOL. There is another SOL for credit reporting. We are focusing on the statute for enforcing collections. Each state has statutes. They differ from state to state. Every state has rules on the statutory period. Check your state civil codes. Even if the debt is no longer able to collect by the collection agency, they will still attempt to collect the expired debt.
The SOL (statute of limitations) is the time limit that bars enforcement of the debt through the court system. Typically, unsecured debt expires in 3-6 years AFTER the last missed payment. If the consumer makes a payment to the original creditor the proverbial clock re-starts and your account is active.

Here is an example: You have a credit card debt (open credit) that has not been paid on 4 years. You have not made a payment in 4 years. The SOL has expired on this account. The collection agency is not able to collect. You can write to the agency a letter indicating the SOL.

If you have made a payment within the 4 years, then the statute of limitations time starts over again.

What if the SOL has expired and you make a payment because you were not aware of this statute? You are liable for the payments to the collection agency. Unless you decide to fight them and take them to court.

Whenever you are contacted by a collection agency, the FIRST thing to check is the date of last payment to the ORIGINAL CREDITOR.

It is not unusual for the collection agency to convince the consumer to pay a “token payment” and then the collector can quickly and quietly serve the consumer with a summons/complaint for a judgment. If you are served papers at your front door, that is the summons/complaint from a collection attorney. Let us know and we can give you other resources, and you need to find a great consumer attorney who understands collection debt.

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