I owned and operated a successful daycare years ago. However, we swithed locations and the business site was covered in mold. I ended up in the hospital for 10 days (8 on life support). Needless to say the business went under. I defaulted on 95% of my loans in February 2002. I called a trustee today and they never heard of the statute of limitations for unsecured debt.

Is it safe to assume that the SOL is the amount of time a debt collector has to realize their claim for monetary payment?