Can I be chased for a 20-year-old debt?

The Statute of Limitations on Debt: Can I Be Chased for a 20-Year-Old Debt?

In general, the answer is no. In most jurisdictions, there is a statute of limitations on debt, which typically ranges from 3 to 10 years. After this period, the debt is considered time-barred, and creditors usually cannot pursue legal action to recover it.

The statute of limitations varies depending on the type of debt and the jurisdiction in which it was incurred. For example, in the United States, the statute of limitations for a written contract debt is typically 6 years, while the statute of limitations for an open account debt is typically 3 years.

There are some exceptions to the statute of limitations. For example, in some cases, the statute of limitations may be tolled, or paused, if the debtor makes a payment on the debt, acknowledges the debt in writing, or leaves the jurisdiction.

If you are being chased for a debt that is more than 10 years old, you should contact an attorney to learn about your rights. The attorney can review the specific facts of your case and advise you on whether or not the debt is still valid.

What Happens If I Acknowledge the Debt or Make a Payment?

If you acknowledge the debt or make a payment on the debt, you could potentially revive the debt and restart the statute of limitations. This is because your actions could be interpreted as a promise to pay the debt.

For example, if you receive a letter from a creditor demanding payment on a debt that is more than 10 years old, and you reply to the letter and acknowledge the debt, this could restart the statute of limitations. Similarly, if you make a payment on the debt, this could also restart the statute of limitations.

If you are unsure whether or not your actions could revive a debt, you should contact an attorney for advice.

How to Protect Yourself from Debt Collectors

If you are being harassed by debt collectors, there are a few things you can do to protect yourself:

• Keep a record of all communications with debt collectors. This includes phone calls, letters, and emails.
• Do not make any payments on the debt. This could restart the statute of limitations.
• Dispute the debt in writing. You can send a letter to the debt collector disputing the debt and requesting that they provide you with proof of the debt.
• Contact an attorney. An attorney can help you to understand your rights and protect you from debt collectors.

Conclusion

In most cases, you cannot be chased for a debt that is more than 10 years old. However, there are some exceptions to the statute of limitations. If you are being harassed by debt collectors, you should contact an attorney for advice.