Q: Do I have to pay an indebtness that is over 14 years old that I was just notified about?
I received an indebtness letter from DFAS dated March 21, 2023 for a debt incurred in 2009. This is the first I have been nitifed about it. They want installments beginning within 30 days. This indebtness is over 14 years old. Is it passed some sort of statute of limitations or expiration at this time?
In general, debts do have a statute of limitations after which they cannot be legally collected. However, the statute of limitations for debt collection can vary depending on the type of debt and the state where the debt was incurred. It's important to review the laws in your specific state and the details of your situation to determine if the statute of limitations has expired for this debt.
It's also important to note that debts owed to the government, such as taxes or federal student loans, may not be subject to a statute of limitations. Therefore, it's possible that this debt may still be collectible even if it is over 14 years old.
It's recommended that you consult with a legal professional or financial advisor to review your specific situation and determine the best course of action. You may also consider contacting the agency that sent you the letter to request additional information or to negotiate a repayment plan if necessary.
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