Q: I just found out that Bank of America is suing me over a debt from 2006? Can they legally do that? It’s been 14 years?
This account was compromised in 2006 I closed the account with the negative balance of around $350. The account was charged fees bringing the account negative $465. Bank of America is suing me for over $4k. Isn’t there a Statute of Limiations in NJ?
A:
In New Jersey, the statute of limitations range from four to six years, depending on the type of debt. Once the statute of limitations is up, the debt becomes known as “time-barred” debt.
Debt collectors can still contact you regarding time-barred debt, and if you start to make payments on it, the statute of limitations starts over. So, even though the original debt is 14 years old, if you have made any payments or acknowledged the indebtedness within the last six years, the statute of limitations may have started to run again from the date of your last payment or acknowledgement of debt. Some creditors might still sue you in court for time-barred debts and you must contest their claim by alleging that the statute of limitations has barred the claim. If you don't, a default judgment can be obtained against you and it may include even additional court costs and attorney's fees. If you have already been sued find a reliable attorney immediately . Don’t ignore a court summons even if the law is on your side.
Good luck.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
