In our debt settlement law practice, we often get clients that come in with debt that hasn’t been paid in several years. Depending on which state you reside, creditors have a certain time limit in which they can sue to collect on an unpaid debt such as a credit card debt (a “statute of limitations”). The following link will take you to a list of the statute of limitations for all 50 states.
California has a four year statute of limitations. What that means is that after four years, the creditor is time-barred from suing you. That doesn’t necessarily mean they won’t try to collect by lawsuit or otherwise. If you have debt that has aged, we suggest that you consult with an attorney to determine what legal defenses you might have on an aged debt. You should certainly do that prior to speaking with the creditor on your own. What you don’t know may hurt you. Better to get the advice of experienced counsel so you don’t make a mistake that starts the clock running again for another four years.