Alabama | Banking Law
9/10/03, 12:53 am
Legal Question
Statute of Limitations
Today I received a letter from a collection agency stating that my account has been placed with them for collection by a bank that I last did business with 3 years ago. The amount is only $71.29 but I have no records from 3 years ago!! Someone told me that the statute of limitations in Ala is 2 years, but would it apply to this situation? The only business I had with this bank was checking and savings accounts. The letter does not give any details as to what the $71.29 represents. Who would give me this info, the bank or the coll agency? If I do not settle this, can the agency put this on my credit report?
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Read More Answered By: Robert Kreitlein |
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