Did you know that many states have statue of limitations on the debt that you owe. If your state has this debt collectors cannot sue you or put your debt on your credit report if the limitations have run out.
You must be careful when a debt collector calls you do not agree to any partial payments or repayment plan or even admit remember knowledge the debt as this may start the clock over on your statue of limitations. If you are threatened or a debt collector uses profanity or keeps harassing you after 9 PM you do have some options. You can report this company to your state attorney generals office and also the Federal Trade Commission as these are violations of the Fair Debt Collections Practices Act. Remember we do not have a debtors prison in this country and you do have rights you must be aware of them and study your options.
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