What is the name of your state?Texas
I have a debt from MBNA that I stopped making payments in September 2001. The account was charged off in April 2002. NCO bought the account and opened arbitration in July/August of this year. Since September is the when the statute of limitations is up on this account, can NCO still proceed with the arbitration just because they filed before the statute is up? If NCO is granted an award through arbitration, wouldn't a judgement be illegal since the statute will have expired? Please advise.