Credit card debt/after statute runs out in GA

[nl]

If the statute of limitation has run out on a credit card debt (in GA), but a second (or third) party has taken over pursuing that debt, does the statute still apply, or do these people who have purchased my account now have the right to take legal action against us? We intend to pay off the original creditor as soon as we are able, but need to know, when our accounts are purchased by these companies, if the period mentioned in the statute still applies, or if the clock starts ticking again when the account is sold. Thanks!

 

[I AM ALWAYS LIABLE]

If the statute of limitation has run out on a credit card debt (in GA), but a second (or third) party has taken over pursuing that debt, does the statute still apply, or do these people who have purchased my account now have the right to take legal action against us? We intend to pay off the original creditor as soon as we are able, but need to know, when our accounts are purchased by these companies, if the period mentioned in the statute still applies, or if the clock starts ticking again when the account is sold. Thanks!

My response:

The "clock starts ticking again" only when you have made a payment on the debt. If you have not made a payment, and no one has a commenced a lawsuit against you within the Statute of Limitations, then no matter how many times the debt is sold to someone, the debt still remains "legally" uncollectible.

If I buy a debt from you that's older than the S.O.L., that's my mistake, and loss. There's nothing that I can do to bring the S.O.L. back to life, EXCEPT hope that you make a payment.

The creditor's job is to get the money. The creditor is hoping that you don't know the law, and that you will pay something toward the debt to "start the clock again".

But, you know better now, don't you ?

IAAL