Forum Question

[jrljrl001]

What is the name of your state? OK

Why is it a creditor or a collection agency that purchased the loan will sue someone immediately or wait 2 to 5 years to sue someone. Why isn't there a consistency with these agency or is it based on the credit report they pull to see if it's worth sueing a person or not. Or are some of these questions actually written by people working for collection agency to scare people into thinking they will be sued immediately.

 

[CALIF-LAWPRO62]

What is the name of your state? OK

Why is it a creditor or a collection agency that purchased the loan will sue someone immediately or wait 2 to 5 years to sue someone. Why isn't there a consistency with these agency or is it based on the credit report they pull to see if it's worth sueing a person or not. Or are some of these questions actually written by people working for collection agency to scare people into thinking they will be sued immediately.

My response:

They can decide to sue whenever they want, and if they want, as long as it's done within the Statute of Limitations. Each State has varying Limitations periods. For example, in California, it's 4 years on a written contract.

IAAL