Time Barred Debts
Time barred debts are very old debts that have crossed the statute of limitations (SOL) and can no longer be collected. These debts are beyond the boundary at which a creditor or debt collector may attempt to collect or sue to collect from you. The SOL period on debts varies from state to state, from three to ten years. In some states it is longer than ten years. The Federal Trade Commission (FTC) along with private attorneys enforces fair debt collection guidelines through a federal act – the Fair Debt Collection Practices Act (FDCPA). While legitimate debts may be collected by creditors or debt collectors engaged by creditors, the FDCPA plays the role
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