Re: Please Help!!!! BK or SOL?
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by LadynRed
(199.91.33.254) on March 25, 2003 at 14:52:56:
In Reply to: Re: Please Help!!!! BK or SOL? posted by Sissy on March 25, 2003 at 14:47:48:
In essence, the secretary is correct, there is no SOL on COLLECTING a debt, theoretically someone can try to collect on it forever. The SOL goes to a creditor or CA being able to SUE you to ENFORCE collection of a debt. Once the SOL runs out, they have no LEGAL ENFORCEMENT to use to make you pay a debt, so they lose their leverage completely. No reason to shell out good money on a bad debt when they cannot FORCE to you pay it thru the courts.
Follow Ups:
Post a Followup
|
