The statute of limits is a defense that is affirmative it generally does not immediately use or avoid loan companies from trying to collect overdue debts. Its raised in court procedures that may stop your debt collection lawsuit in the event that court determines that the right time period as soon as the financial obligation collector is permitted to register online installment IN case against you has passed away. Then, the court will dismiss the instance against you. You must raise the statute of limitations defense when you file your answer if you are sued for a delinquent debt, and believe the statute of limitations might prevent the collection agency from suing to collect that debt. Since it is an affirmative protection, failing woefully to raise it correctly may cause one to lose its defenses.
Can debt collectors attempt to collect a time-barred financial obligation?
In the event that collection agency isn't suing you but is simply wanting to gather a debt banned by the statute of limits, things have more cloudy.