Yes, that summarizes the key point of the video.

@@bankruptcybailoutwhat happens if you were never served to go to court and the claimant won a judgment against you, and you receive a letter after the fact. Mine was over ten years old. Past the Statute of limitations And protected under the Fair Debt Collection Practice act. Even the amount was 7 times what would’ve been owed. Never received anything other than a threat to sue me (but after the statute of limitations protected me) I even received this letter 2 weeks after the judgement so I have little time to appeal. Not even sure how to appeal

Same never summoned to court so I need legal advice

I'm from ms

Glad it was helpful!

Theoertically yes. SOL is treated as an affirmative defense in many states. However, most attorenys (even collection attorneys) are wary to bring a claim that is outside the SOL as that will subject them to both court and state bar discpline for knowlingly bringing such a claim.

But do you know why? Losing one's primary residence in bankruptcy is extremely rare. Few, if any, people who file bankruptcy do so without knowing they will lose their house. When it happens, it is usually part of the plan (or they filed for bankruptcy without an attorney or were poorly advised).

The answer would depend on if the vehicle is "titled" and who has the title and what are the back fees you reference.

Hopefully the video helped. You will want to discuss your specific situation with an attorney in your state to determine your options. Statute of limitations laws and how they work vary from state to state.

@@bankruptcybailout exactly. Yes every state is different when comes to the statute of limitations. Ohio is (6) max . My recommendation is check with the laws in your state. & you can Google it . All statute of limitations is a time frame for a debt collection agency to take action. Once it’s outside the time frame there’s not much they can do. Most. & formost get a copy of your credit report or go to credit karma . & look & see when it was charged off . That is all proof you need in the invent should a debit collector try to take action. Also if you get any kind of communication from a junk debt collector act. On it make sure you have all the information & facts. First ! Look at the charge off date first ! Then go to the statute of limitations for your state . If it’s outside the statute of limitations then they are basically bared . If a collection agency tries anything then they violated the fair debt collection practices.

Check with the laws in your state first !

You can dispute it with the credit reporting agency. However, in the grand scheme of things, does a 90 year old really care about credit (if we are honest).

They shouldn't. But they could actually file a complaint. The statute of limitations is an affirmative defense to a lawsuit, not a bar to filing a lawsuit. The threat to sue you (assuming the debt really is beyond the statute of limitations, which is 6 years in Colorado) may violate Fair Debt Collection Practices Act (FDCPA). It wouldn't hurt to consult with an attorney in Colorado that handles FDCPA claims. (I don't do those cases).

@@bankruptcybailout Thank you so much Sir! I really appreciate the feedback. Some attorneys use that threatening language to get debtors to pay. 😀

3 months left I assume? How’s the attrition fight going?

The statute of limitations clock starts when you stop paying. In many states, the statute of limitations is an affirmative defense to a lawsuit. That means that the SOL is not self-executing. If a collector sues you and the debt is outside the SOL, you have to raise that issue in your response. However, most attorneys won't file a case when they "know" it is outside the SOL. If the debt is outside the SOL, most states still permit a collection agency to contact the debtor to request payment, but the collector cannot threaten to sue you. If they threaten to sue you for such a debt, that violates the Fair Debt Collection Practices Act.

​@@bankruptcybailout I truly appreciate your response. This collection agency contacted me today wanting to know when they could come by to serve me a summons for County court. They want me to arrange a time tomorrow when they can actually serve me while I am at home. Thank you once again Mr. Berkus!

You should probably reach out to a local attorney in you area and they can tell you if the collection is real or a scam and advise accordingly. However, it is common practice for a process server to try to contact the defendant to arrange service of process. Avoiding service of process doesn't prevent the lawsuit.

If the creditor obtained a judgment before the statute of limitation expired, then the answer is yes.

That is a lot to unpack here. The real question is how much time do you really want to invest in dealing with this thing. Maybe a $500 settlement is worth it to avoid the hassle. Or, you can play a game of a chicken, tell them to pound sand (that it isn't your debt), and see if they actually sue.

For SBA loans, the statute of limitations applies only to the time frame to sue you. However, the government has other collection options that don't require a lawsuit and are NOT subject to any statute of limitations. SBA loans can stil pursue administrative enforcement such as offset and administrative wage garnishment. Offset is where the government intercepts payments from the government to you (e.g. tax refunds). The government can do administrative wage garnshments. It doesn't need a court order.

@@bankruptcybailout thank you for your response. Does it matter the amount owed? It says amount due 24450.28

@@LuvinOurLife As far as I know, the amount owed is irrelevant.

The day after the payment is missed, plus any grace period. It is at that point the borrower is in default.

@@bankruptcybailout thank you 🙏🏽. Appreciate the answer

You need to find out more information. Were you attending a school in 2016? Did you withdraw or leave with an open balance? However, you probably want to follow the process of requesting Debt Validation. Search for FDCPA Debt Validation letter sample and send the collector the letter.

@@bankruptcybailout I did attend a school in that year. No loans. Maybe open balance. But never was on my credit report.... statue of limitations is 6 years in the state on nj

Whether a debt is or is not on your credit report is irrelevant. Credit reporting is voluntary, not mandatory. I can't speak specifically to NJ law, but as the video points out, in most states a statute of limitations is only a bar to suing you to collect the debt. They can still contact you and request payment. Also, the school can withhold your transcript if you should ever need it.

I do not, but that is an easy Goggle or AI search.

That is why there is chapter 13 bankruptcy. However, most states have increased their homestead exemptions in the past few years. I wonder what you think the alternative is. If you cannot pay the debt, then the creditor can sue, get a jugment, and then file a lien against the house.

You have to take up the credit reporting issue with the credit reporting agencies regarding a dispute. Since we don't know the type of debt or whether there is already a judgment, there is no way to say your options.

@@bankruptcybailout I already investigated. It is an old phone bill from Sprint 20 years ago when I was a irresponsible 20 yr old kid. I even call Sprint now T-Mobile. They have nothing on record for my social security number. I checked with the courts already. There is no judgement against me. And I even file a dispute with Experian. They are currently investigating.

You cannot be sued twice for the same debt. If that is really what is happening (I doubt it), then you should go. If they are simply renewing the prior judgment, then there is no defense to that.

@@bankruptcybailout i hink you are right sir do u suggest i file chapter 7

Bankruptcy is something to consider. Whether you should file bankruptcy is a discussion you need to have with a bankruptcy attorney in your state. Consultations with bankruptcy attorneys are usually free.

That usually doesn't happen.