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What is the statute of limitations for collecting a personal loan debt?

What is the statute of limitations for collecting a personal loan debt?

Full question:

Is there a statute of limitations on when a debt can be collected? Specifically, can a widow demand collection of a 17-year-old debt for the estate of her deceased husband, or has the time run out to collect the debt? It was a personal loan.

Category: Debts and Credit
Date: 04/07/2025
State: Washington

Answer:

In Washington, the statute of limitations for collecting a debt from a promissory note or written contract is six years. This means that a debt that is 17 years old is likely beyond the time limit for collection.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Does disputing a collection restart the clock?

Disputing a debt does not automatically restart the statute of limitations. However, if you make a payment or acknowledge the debt in writing, it may reset the clock on the time limit for collection. It's important to understand your rights and the specific laws in your state regarding debt collection. In Washington, for example, the statute of limitations for most debts is six years. Always consult with a legal professional for advice tailored to your situation. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

Can a debt collector restart the clock on my old debt?

A debt collector cannot restart the statute of limitations simply by contacting you about an old debt. However, if you make a payment or acknowledge the debt, it could reset the time limit for collection. In Washington, the statute of limitations for most debts is six years. It's crucial to be cautious in these situations and to seek legal advice to understand your rights. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

Can an old debt be restarted?

An old debt cannot be restarted simply because a collector attempts to collect it. However, if you acknowledge the debt or make a payment, it may reset the statute of limitations. In Washington, debts typically have a six-year limit for collection. Always consult a legal professional before taking action on old debts to understand the implications. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

Can a collection agency open an old debt as new?

A collection agency cannot legally treat an old debt as a new one simply because they are attempting to collect it. The statute of limitations still applies. In Washington, the time limit for collecting most debts is six years. If the debt is older than this, it is likely unenforceable in court. It's advisable to seek legal counsel if you are approached about an old debt. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*