Statute of Limitations (SoL) on Debt Has Expired - Sample Letter to Creditor or Debt Collector
You were relaxing at home, watching the television in the early evening, then suddenly you get a phone call from a debt collector demanding that you pay on an old debt. Debts that are “time-barred” are basically debts that are so old they are beyond the point at which a creditor or debt collector may sue you to collect on them. Law in every state varies as to when a creditor or debt collector may no longer sue you to collect on a debt. Also, in most states, the statute of limitations (SoL) period on debts is between 3 and 10 years. in some states, the period is longer.
Even though your debt’s statute of limitations (SoL) has ended, that does not stop creditors or debt collectors from trying to collect the debt. All it means is that the creditors or debt collectors are unable to use the courts to force you to pay a debt by legal actions (e.g. liens, wage garnishments, etc)
So, if you have a valid debt that its statute of limitations (SoL) has ended, then you can choose whether or not you want to pay it. Thus, if you decide not to pay the debt, then you can save yourself and the creditor or debt collector some time and money by sending them a “statute of limitations has expired” letter, and your intention of using it should they want to pursue it in court.
Go ahead and copy and paste this sample “expired statute of limitations” letter in your favorite text editor or word processor. Modify the letter to suit your situation, then mail it out as usual. Good luck!
———
Today’s Date
Your Name
Street Address
City, State, Zip
Collector’s Name
Collector’s Address
City, State, Zip
RE: [insert account number or name of account or name of debt]:
Dear [insert collector's name or company name],
This letter is in response to your [letter dated xx-xx-2008] (copy enclosed) or [phone call on xx-xx-2008], concerning the collection of the above referenced [account or date].
I do not believe I owe what you say I owe therefore I dispute this debt. I am well aware of my rights under the Fair Debt Collection Practices Act (FDCPA) and my state laws so I hope to save both of us a great deal of time by letting you know that not only do I dispute the validity of this debt, I have also checked with my State Attorney General and verified that the Statute of Limitations for enforcing this type of debt through the courts in (insert your state or the state in which the contract was signed) has expired. Therefore, should you decide to pursue this matter in court I intend to inform the court of my dispute of this debt and that the “statute of limitations” has expired.
This letter is your formal notification that I consider this matter closed and demand that you, or anyone affiliated with your company, stop contacting me regarding this or any other matter except to advise me that your debt collection efforts are being terminated or that you or the creditor are taking specific actions allowed by the FDCPA or my state laws.
Be advised that I consider any contact not in accordance with the Fair Debt Collection Practices Act a serious violation of the law and will immediately report any violations to my State Attorney General, to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself. Be advised that I tape record all phone calls and violations of the FDCPA can result in you or your company being personally fined up to $1,000 per incident.
Sign with your signature above your printed name
Your Printed Name
——–
Note** Just so that you are aware, if you do not dispute the debt, then you should leave it out of your letter. You should note that without a statement of you disputing the debt,such as,”this debt is not mine”, and then you go ahead and send out the Expired Statute of Limitations (SoL) letter, then you are implying that the debt is valid and is yours.
Send your Expired Statute of Limitations (SoL) letter via “registered mail - return receipt requested”. Make sure you also make copies and keep them for your records.
Posted under credit repair, debt collectors, fix bad debt, improve credit report, remove collection accounts, sample credit repair letters
This post was written by fixbadcredit
