What is the statute of limitations on debt collection?

In California, the statute of limitations on debt collection is either four or six years. Under the Consumer Debt Defense Law, the statute of limitations is four years for consumer debts, such as credit card debt, and six years for other debts, such as business debts, medical bills, and court judgments. The statute of limitations is the amount of time a creditor has to take legal action to collect a debt from a consumer. If a consumer has not paid a debt within the specified amount of time, the creditor cannot pursue a lawsuit to collect the debt. The statute of limitations applies to the date the debt was first incurred or the date of the last payment on the debt. It is important to note that if a consumer makes a partial payment or acknowledges that they owe the debt in writing, the statute of limitations is reset, meaning that the creditor can start the collection process over again. When it comes to debt collection, the statute of limitations is an important factor to consider. Consumers should know their rights under the Consumer Debt Defense Law, and what rights they have in terms of debt collection. This is important to know in order to protect oneself from unfair debt collection practices and other legal issues.

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What is the statute of limitations on debt collection?

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