Legal Question in Credit and Debt Law in Connecticut
Statute of Limitation?
I have received notice from a collection agency that they have bought a bank credit card debt they claim I owe that was charged off in 1987 from the original credit card company. It has been 15 years since this debt was charged off and I honestly don't remember if I really owed this or not or any details of it. I have not received any sort of correspondance or demand for payment in the last 15 years from the original debtee or the collection company who bought it.
My question is...Is there a statute of limitation on things of this sort and can they legally demand payment (and get it) of this 15 year old debt they purchased?
1 Answer from Attorneys
Re: Statute of Limitation?
The statute of limitations in Connecticut for debts like this is six years from the date the entire debt became due. DON'T STOP HERE -- KEEP READING! The entire debt became due at the time the creditor FIRST sent you a letter demanding payment of the entire balance, and that was probably before the debt was charged off in 1987. DON'T STOP HERE, EITHER -- KEEP READING!
However, the applicable statute of limitations might NOT be Connecticut's. Ever wonder why so many credit card companies are located in Delaware and South Dakota? It's because those two states have VERY liberal rules with regard to credit card debt, and those rules MIGHT include a much longer statute of limitations. YOU GUESSED IT -- KEEP READING!
You need to consult a consumer protection lawyer. If you are in the Hartford area, contact Lawyer Referral Service (White Pages of SNET phone book). They will arrange for a 1/2-hour consultation with an appropriate specialist for $25.00. In the New Haven area, contact the New Haven County Bar Association for a similar type of referral.
NOW you can stop reading.