Re: Does the Statute of Limitations Change When a Debt is Purchased, in Tennessee
The SOL starts from the date of last activity (ie date of last charge or payment on the account).
Quoting natasha fatale
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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