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Steer clear of resetting the clock on old debts

Steer clear of resetting the clock on old debts

Old debts can make problems should you mistakes while coping with them. In error, some customers reset the clock in old debt and be accountable for your debt again. It leads to obtaining a lawsuit or wage garnishment contrary to the debts.

So what can restart the clock on a debt that is old?

Each financial obligation comes with an SOL (Statute of Limitations) duration. The creditors need to sue the debtor for unpaid debts before the SOL period is over.

After the SOL expires from the financial obligation, creditors or collectors can’t lawfully force the debtor for the cash. Lire la suite