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  1. #1

    Question Does the Statute of Limitations Change When a Debt is Purchased, in Tennessee

    Tennessee has a 6 year statute of limitation on credit card debt. Does that time clock begin at the last payment made? the last charge made?

    Furthermore, the debt has been sold to collection agencies more than once. So my questions are: does this reset the clock for statutes of limitations regarding credit card debt? can I find out how much the collection firm paid for the debt? am I still legally required to pay this debt?

    Thanks

  2. #2
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    Default Re: Does the Statute of Limitations Change When a Debt is Purchased, in Tennessee

    Quote Quoting natasha fatale
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    Tennessee has a 6 year statute of limitation on credit card debt. Does that time clock begin at the last payment made? the last charge made?

    Furthermore, the debt has been sold to collection agencies more than once. So my questions are: does this reset the clock for statutes of limitations regarding credit card debt? can I find out how much the collection firm paid for the debt? am I still legally required to pay this debt?

    Thanks
    The SOL starts from the date of last activity (ie date of last charge or payment on the account).

    Selling the debt to a collection agcy./agencies does not restart the SOL. Some collectors try to restart the SOL when they buy the debt but that is called "re-aging" & is illegal.

    I doubt if the coll. agcy. (or anyone) will tell you how much was paid for the debt but it is usually very little.

    You don't say when the date of last activity was on the credit card so I don't know if the SOL has elapsed. If the SOL has elapsed, it doesn't eliminate the debt (it is technically still owed) - the SOL has expired is just a defense you can use in court to keep from getting a judgment against you by the coll. agcy. for the debt.
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  3. #3

    Default Re: Does the Statute of Limitations Change When a Debt is Purchased, in Tennessee

    thanks. that gives me the answers I need.

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