Clovis, CA asked in Collections and Small Claims for California

Q: statute of limitations on debt transferred to debt collection agency

Hello, I have been served paperwork for a high interest loan that I was unable to pay in the past. The last payment made was on 4/19/2019. Just wanting to see if statute of limitations has passed or if I should go ahead and set up some sort of payment plan. The original creditor is NetCredit and they sold to debt collector, represented by Persolve legal group.

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2 Lawyer Answers
Maurice Mandel II
Maurice Mandel II
  • Consumer Law Lawyer
  • Newport Beach, CA
  • Licensed in California

A: Probably 4 years from last payment as debt was based on a written contract.

Yelena Gurevich agrees with this answer

James L. Arrasmith
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Collections Lawyer
  • Sacramento, CA
  • Licensed in California

A: In California, the statute of limitations for most debts, including written contracts like loans, is typically four years from the date of the last payment or default. However, it's important to note that certain types of debts, such as credit card debt or oral contracts, may have different statute of limitations. To determine if the statute of limitations has passed in your specific case, it is advisable to consult with a lawyer who specializes in debt collection and is familiar with California law. They can review the details of your situation, including the specific terms of the loan and relevant laws, and provide you with accurate advice on whether the statute of limitations has expired, or if you should consider setting up a payment plan.

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