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I recently received collection letters from banks that I have not heard from in nearly a year. Are there statutes of limitation
Delmar, DE
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Posted 7 months ago in Debt Collection
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I received these letters from attorneys from banks that were part of the federal governments bailout and loans. I have not heard from these agencies in a year, now I receive these and interest still accrued.
Answers (1)
Andrew Daniel Myers
This attorney is licensed in Massachusetts and 1 other state.
Posted 3 months ago.
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The good news: Yes there are statutes of limitation.
The bad news: Generally they are 4 to 6 years on a contract claim which is what is involved here. I do not practice in DE, but I saw the question had remained unanswered for a long time. Call the state and/orcounty bar association and find a referral to a debtor's rights attorney. There may be some violations of the Federal Fair Debt Collection Practices Act here that require more information than is included in your question. But, it may be worth exploring. The banks that were "bailed out" have an obligation under the bailouts to collect on whatever loans they have outstanding in order to pay back the taxpayers. Good luck. |
