How long can a debt collector attempt to collect a debt?

In Florida, a debt collector has a certain amount of time to pursue a debt and attempt to collect it. Depending on the type of debt, this can range from five to ten years. In Florida, the Statute of Limitations for a debt is five years. This means that after five years have gone by, the debt collector cannot take legal action against you to collect on the debt. If the debt is not paid within five years, it is considered “time-barred,” and the debt collector cannot take further action against you. However, if the debt is secured, like a mortgage or auto loan, the Statute of Limitations is ten years. Secured debts are debts that are backed by an asset (like a house or car). This means that the lender can repossess the asset if the debt is not paid. Therefore, the Statute of Limitations for these types of debts is longer because of the risk involved. In Florida, it is important to remember that the Statute of Limitations can be “tolled,” which means that the clock is reset if certain conditions are met. For instance, if you make a payment on the debt, the Statute of Limitations is restarted and the debt collector has another five or ten years to pursue the debt. In summary, in Florida, a debt collector can attempt to collect a debt for five to ten years, depending on the type of debt. In some cases, the Statute of Limitations can be tolled, which will give the debt collector more time to pursue the debt.

Related FAQs

Can a debt collector ever contact my friends, family, or employer?
Can a debt collector obtain information about my employment?
Can a debt collector repossess my property for unpaid debt?
Can a debt collector list my debt on my credit report?
Must a debt collector give me written notice before attempting to collect a debt?
What is the Fair Debt Collection Practices Act enforcement process?
Can a debt collector threaten to take legal action against me for a debt?
What can I do if a debt collector refuses to provide me with proof that I owe a debt?
When is a debt collector allowed to contact me in person?
How do I know if a debt collector is legitimate?

How long can a debt collector attempt to collect a debt?

Related FAQs

Related Blog Posts