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what is the statue of limmation on collecting LOAN
State/Country of Question: Florida Already Tried: we are beind sued for a bill from 1993
What state is the collection occurring in? Did the lender file suit and obtain a judgment?
Thank you
I don't know. they put a lean on a cd
they filed a wrlt of garnishment on a cd we have
In order to obtain the Writ of Garnishment, they filed suit prior and obtained a judgment. A judgment is valid for 20 years in Florida, although after 10 years the judgment must be renewed. You need to contact the lender in writing and contest the debt. You should receive documentation in response indicating if the lender has obtained a judgment in the matter. In Florida, the claim based on a loan agreement must have been filed within five years. This appears to have occurred based on the information you have provided.
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