Limitations statue

[nanaboo38050]

What is the name of your state?Tennessee How long can a bank attempt to collect for a loan? What can be done to them, for waiting from 1988 till Nov. of 2004, to start trying to collect? Is it legal to wait till now, to try and collect without any pryor notice? Is it legal to serve a warrant on a person for this loan amount, and can they also try to collect interest on this loan for all these years?

 

[Ladynred]

Nothing they have done is illegal, unfortunately.

The statute of limitations on debts in TN is 6 years. So its very important to know when you last paid the original creditor. If it WAS 1988.. wow, talk about a time-barred debt -the statute of limitations would have run out in 1994 !!!!

What kind of debt (loan) was this ?
Who is the collector who's suing you ??
When were you served ???
Was the suit brought in general sessions court ??

If this thing is truly 16 years old, then you CAN beat this in court with the statute of limitations as your affirmative defense.