Public Financial Knowledge Infrastructure: Is Your Debt Time-barred?

   This basic post is meant to be useful for anyone wishing to give a 5-minute seminar at the Metro/Trolley/Bus stop.
Please share widely.
Now that we know what a Statute of Limitations
is,  statutes-of-limitations and how to get the  information  on your debt, if it is Valid, you have the information that a legal expert needs to figure out if your debt is still enforceable in your state (or DC).
You should also look at your credit report, since debts are often listed by type there, as well.
1.  revolving  or open, is credit card;
2.  written contract is an apartment lease, for example;
3.  verbal contract;
4.  promissory notes.
        Again, many web sites list the various SoLs by state, but be sure to compare the SoL in your state with the online legal code of your state, and be sure that it is up to date (ask a law student if you are not sure, at a free legal clinic).
    Now that you have all of the dates from your last payment, check your state law to see how soon after that the SoL for that type of debt kicks in, and count the years.  If it is too old, then the debt is not enforceable, but you need to tell them that.  In writing.  There is a lot of advice online about this, but you probably want to get a Pro-Bono lawyer or law school student to help you, just to be sure.
   Remember to always respond to a letter about debt, after checking with a legal person.
Don’t wait  until_debt_tear_us_apart_28unsplash29
      More on getting our state legislators to change this situation in a couple of weeks.



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Shira Destinie Jones’ work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.


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