South Carolina Statute of Limitations for Debt
Old debt that can no longer be collected is often referred to as zombie debt. While there is a legal limit when it comes to how long debt collectors can hound you, this doesn’t mean there aren’t unscrupulous sorts out there who don’t let the law get in their way. If you have questions or concerns about past debts, don’t wait to consult with an experienced Columbia debt relief attorney.
Time-Barred Debt
There is a legal limit to how long creditors have to sue you for unpaid debt, which is referred to as a statute of limitations. In the State of South Carolina, the statute of limitations for most of the unsecured debt is three years. This means that if you haven’t made a payment or addressed the debt in question for at least three years, the debt is time-barred by the law and generally can’t be collected through a lawsuit. This, in turn, means that the collector should stop harassing you for payment.
Reviving the Debt
It’s important to know that just because a debt has reached the statute of limitations and is time-barred doesn’t mean that it can’t be revived. To revive a debt that is time-barred, the creditor must obtain an acknowledgment of debt from you in writing, and if you make a payment, it amounts to the same thing.
In other words, if a creditor is coming after you regarding an old debt, you’re not going to do yourself any favors by interacting with them. Debt collectors tend to be skilled at manipulating those who are stressed by overwhelming debt into making ill-informed financial decisions. A much better plan is consulting with a practiced debt relief lawyer who will help to ensure that you know your legal rights and your best options.
Debt Collection in South Carolina Is Complicated
While there is a statute of limitations in place regarding debt, it doesn’t mean that you can’t be sued by a third-party debt collector. It does mean, however, that you have an affirmative defense, which is that the statute of limitations has elapsed. If you are sued, you have 30 days to respond, and failure to do so means the creditor wins by default.
What Debt Collectors Can’t Do
You – as the debtor – have rights, and this includes the right to sue debt collectors for illegal tactics such as the following:
- Employing abusive tactics
- Contacting you more often than is reasonable, such as more than once a day or after you’ve asked them to stop
- Telling others about your debt in order to embarrass you
- Making false statements to you about your debt, such as threatening to garnish your wages for consumer debt
Debt collectors bank on the stress and uncertainty you’re experiencing, but a knowledgeable debt relief attorney can help.
Make the Call to an Experienced Columbia, SC, Debt Relief Lawyer Today
The formidable Columbia debt relief attorneys at Reed Law Firm are well acquainted with the questionable tactics that too many debt collectors engage in, and we’re well prepared to fiercely protect your legal rights in response. Managing your debt is possible, and we’re on your side. Learn more about what we can do to help by contacting us online or calling us at 803-726-4888 for more information today.
