Statute of Limitations / Old debt

Consumers are often plagued by debt collectors collecting old debts. (Otherwise known as “Zombie Debt”) Many times these old debts are sold to debt buyers or placed with collection agencies that attempt to bully and harass consumers into paying. Because most debts are based on a contract between a creditor and a consumer, in Minnesota, a creditor needs to begin a lawsuit within six years from the date of default.

Therefore, if you reside in Minnesota, never pay anything toward a debt that is more than six years old. If you are not sure if the debt is more than six years old, contact us and we can try and help you determine whether or not the statute of limitations applies. Or we can help you request validation of the debt from the collector.

When collection companies are attempting to collect old debt, the odds that they will take improper or illegal action increases dramatically. Often collectors get more aggressive as the statute of limitations gets closer. It is very important that you speak with a lawyer that specializes in this area.

If you believe a collector is attempting to collect an old or zombie debt from you, all us at: 612-821-4817

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