a florida company owes me money and admits to the debt by email. will the statute of limitations on the enforceability of this debt still apply? if so, how can i overcome it?
Country relating to Question: United States
State (if USA): Florida
Welcome! Thank you for your question.Unfortunately even if someone admits that they owe you a debt the Statute of Limitations still applies. The statute of limitations on a debt only begins to run after the last payment was missed. For example, if the statute is 5 years for the written contract and the last payment ever made was in June of 2007 then the statute of limitations has expired. The only way to overcome the statute of limitations is for the company that owes you money to pay you some, even a small portion of the debt. This small payment will restart the statute of limitations on the entire debt. To continue my example, if the company pays you $25 on the debt in June of 2010 then the statute of limitations on the entire debt restarts from June of 2010 and does not run until 2015.
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Your answer was quite satisfactory except I would like 2 clarifications:
1. You didn't say whether your answer specifically applied to Florida (and when you said I should check a lawyer in "my area") I am concerned that you don't know if it applies to Florida
2. Wouldn't a specific written agreement whereby I temporarily forgo collection activity in return for a specific payment schedule be binding, that is, if I can get debtor to sign it?
1. I am giving you the law in Florida. I have to give a general statement since I am not a Florida licensed attorney. I did provide you with A statement of how Florida law is applied. 2. An agreement would work because the agreement would have a new statute of limitations as to that agreement. Beware that if it is not paid according to the new agreement then The statute starts to run against it as well.
Over 15 years legal experience.
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