Legal Question in Credit and Debt Law in Georgia

Back in 2001 I signed a lease for a credit card machine for my business (which closed right after 9-11) I turned in the equipment and went out of business. Today, 5-17-2016, I got a letter from a collections agency telling me I owe the company over $5000 and that they are willing to take a settlement of $1039 if I pay before 5-28-2016. They further state that if I do not pay the settlement amount that they will review the lease for civil suit action. My question is this, If I have not heard a peep from these people in 15 years, wouldn't there be some kind of statute of limitation that would apply and what should I do? I have not responded to this letter yet as I wanted legal advice first.

Asked on 5/17/16, 6:16 pm

Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

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It is way past the statute of limitations. Do not speak to or write them but do haveyour lawyer write them.

Answered on 5/17/16, 6:22 pm

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