Egg Harbor Township, NJ asked in Consumer Law for New Jersey

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?

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1 Lawyer Answer

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.

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