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insearchoftheanswer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 54009
Experience:  Practicing lawyer for 31 years
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A collection agency has filed suit on a credit card debt

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A collection agency has filed suit on a credit card debt acquired by a third party. According to the affidavit the last payment made on the debt was December 17, 2008, over seven and one-half years ago. Does the 6 year statute of limitations apply or may I be liable for the debt?
Submitted: 3 months ago.
Category: Consumer Protection Law
Expert:  insearchoftheanswer replied 3 months ago.

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Expert:  insearchoftheanswer replied 3 months ago.

You are correct. Pursuant to Tenn. Code Ann. § 28-3-101 et. seq., the statute of limitations is 6 years for this debt. This gives you an absolute defense to this suit. It's an affirmative defense you must raise; it does not prevent the collection agency from filing the suit. These collection agencies buy these debts for pennies on the dollar and then file these suits because so many people simply pay them without being aware that there is a statute of limitations which would give them an absolute defense to any suit. Good for you for being aware of this!

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