Texas Statute Of Limitations On Debt
Posted on
August 3, 2009
at
4:01 am
Hi, would you know what the statute of limitations on debt in Texas is? Thank you in advance!
Posted on
August 3, 2009
at
4:03 am
Hello Liza, in Texas the time you can be sued for a debt is limited to: 4 years (Oral Contract, Written Contract, Promissory Notes, and Open-ended Accounts)
Posted on
August 3, 2009
at
4:09 am
I see, thanks! I'm going to expect collection calls anytime soon then, as my old debt is around that age..I heard from a neighbor that the closer the statute of limitations deadline is..the more likely it is that I'd get collection calls. The debt collectors know of this right? That once it's up, they really can't sue me for not paying right?
Posted on
August 3, 2009
at
4:13 am
Yes they do but the difficulty level of getting rid of them depends on what kind of debt collectors is after you. Most likely it's going to be a third party debt collector or the junk debt buyers or a law office..Whatever you do, don't admit to the debt, nor promise to pay it without them verifying it to you first. Admitting to it may reset your statue of limitations clock. After the first call you should expect a written version within 5 days. It should contain the amount of debt you owe, your creditors information, and what you can do to have it verified.
Posted on
August 3, 2009
at
4:20 am
Also, take note that the statute of limitations on debts (SoL) does not apply to certain debts, like:-Federal student loans-Child support-Most fines-Taxes (but many income taxes have a 10-year SoL, do consult with a tax expert with regards to your situation)
Posted on
August 3, 2009
at
4:22 am
Oh..okay..I'm really not sure about that old debt, is there a way for me to know before they call?
Posted on
August 3, 2009
at
4:25 am
Hey if you are not sure what the exact date is or the last activity of your delinquent account, you can request or order a free copy of your credit report from the credit reporting bureaus. I. Equifax 1-800-685-1111 . II. TransUnion - 800-916-8800 III. Experian - 888-397-3742
ck Rep Points:
Posted on
August 3, 2009
at
4:27 am
You get a free copy every year here https://int.annualcreditreport.com/cra/index.jsp?code=57071240418111105305256582611356
Posted on
August 20, 2009
at
7:57 pm
Hi, I live in Texas as well. 1. Since the statue of limitation in Texas is 4 years does that means that after 4 years the item can be removed of the credit report?2. What exactly does "Date Of First Delinquency" mean? Does that mean the first time I missed a payment?3. I just got my credit reports but all I see is: Estimated date that this item will be removed: 08/2011is there anyway I can find EXACTLY when was the "Date Of First Delinquency". I don't have my credit card statements anymore. Can I call the Credit Bureau for example or will the collection company give me that info? I can't seem to find it on the report.
Posted on
August 21, 2009
at
5:42 am
it's a common misconception on this forum where people state 'they can't sue you if the SOL has already passed' this is absolutely FALSE and WRONG. of course they can sue you, anyone can be sued for anything. You have to raise the affirmative defense yourself that the Statute of Limitations has passed! As for the credit reports, bad debt remains on there for 7 years, SOL does not matter.
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