How Long Does It Take To Process A Lawsuit Over An Old Debt?

In times of uncertainty, you may be overwhelmed with debt and fall into arrears. You may be wondering, “How long can a collection agency legally collect old debts?”

Debt Collector ( Photo: Etactics )

Is there a difference in how long old debts can be collected?

Ohio’s statute of limitations is six years in most cases, regardless of the type of debt. After 6 years of bankruptcy, collection agencies can no longer sue for unpaid amounts. Be aware that someone could accidentally roll back an old debt. This means that the six-year period can start over even if a significant amount of time has already passed.

Learn about your rights in the debt collection process, including when, where, and how often debt collection agencies can contact you

The debt collection process isn’t fun, but you have options. That doesn’t mean your financial future is permanently damaged. If you are contacted by a collection agency, take the time to verify that the debt really belongs to you, that the collection agency is trustworthy, and that it is still within the proper collection statute of limitations. is important. Whichever path you choose, keep your debt schedule in mind and understand not only your options but their potential impact on your long-term financial health. A financial advisor or consumer attorney is especially helpful in this process.

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