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Ask WALLSTREETESQ Your Own Question
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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In late 2008 I began making arrangements to file chapter 7

Customer Question

In late 2008 I began making arrangements to file chapter 7 bankruptcy. But, family emergencies, elderly parents, three years have come and gone. If I just wait a little longer, then four years will have passed. My understanding is, if creditors haven't been paid in four years, they have to let it go and not expect payment. Thank you.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 6 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on

WALLSTREETESQ :

In Texas it is 4 years under the Statute of limitations.

WALLSTREETESQ :

If a debt collector sues you to collect a time-barred debt, you can have the suit dismissed by letting the court or judge know the debt is, indeed, time-barred

WALLSTREETESQ :

statute of limitations (SOL) does not prevent debt collectors from attempting to collect on debts. They just cannot successfully sue to collect the debts -- assuming the debtor shows up in court to assert his or her rights.



WALLSTREETESQ :

If they have sued you already, than it would not be time barred

WALLSTREETESQ :

The clock on the statute of limitations may start anew if a consumer makes a payment -- even a small amount -- on a debt that has exceeded or is approaching the end of the statute of limitations.



WALLSTREETESQ :

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