Q: Received email about charged-off HSBC debt from 2016; statute limitations concern in PA/GA.
I received an email from a pre-litigation company about a credit card debt with HSBC that was supposedly charged off in 2016. The representative mentioned that the debt was purchased by a law firm and could be pursued for breach of contract under a 10-year statute of limitations. I have lived in Georgia and Pennsylvania, and I believe the statute of limitations for credit card debt is only 4-6 years in these states. I have not verified the debt's validity and have had no prior contact about it. What should I do regarding this situation?
A:
A "charge-off" of a debt is an internal accounting process, and it has no legal effect on the indebtedness.
You appear to be correct about the length of PA limitations.
Note that the PA statute of limitations runs from the date of default. That period may be extended, however, by a subsequent payment or acknowledgement of liability.
You will be best served by conferring with experienced PA counsel, as there may be other pertinent details that affect the result (e.g., absence from a jurisdiction may extend time to sue).
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