Legal Question in Credit and Debt Law in California

Personal loan paid from disability insurance 1994 or 1995

I took out a personal loan many years ago and acquired disability insurance at the time of the loan.

I was on Workers Comp for 8 years and periodically had to have my physician update medical status.

I am sure this loan was paid in full due to not being on my credit report, moving a couple of times etc.

Now I have a company called SRA Associates calling me to pay a $1000.00 debt. I know this debt had to be satisfied.

I think the name of the company owing the debt is no longer in business, not sure what my rights are, but this is over 12-14 years old.

How can I handle this debt, calls at my home, affect my credit etc?


Asked on 1/06/09, 8:58 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Personal loan paid from disability insurance 1994 or 1995

Don't speak to CAs. The statute of limitations for fiing a lawsuit is 4 years, but if you make a partial payment or a promise to pay this will extend the period for another 4 years. They also can't report this on your credit report after 7 years.

See creditboards.com

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Answered on 1/06/09, 9:49 pm


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