MARQUITTA said:
I PURCHASED A PRODUCT OVER 10 YRS AGO FROM A STORE THAT HAS NOW GONE OUT OF BUSINESS. I HAVEN'T RECEIVED ANY INFORMATION ABOUT THIS DEBT IN ABOUT 6 OR 7 YEARS, NOW I'VE RECEIVED A LETTER FROM A COLLECTION AGENCY. (STATE OF IL)
My response:
They are doing this to you in the hopes that you are ignorant of the law. After reading the following, you will no longer be ignorant.
First, they cannot collect the debt from you any longer.
Illinois has a 6 year Statute of Limitations on debts based upon a written contract. That means, if they haven't filed a lawsuit against you within 6 years from the date of the contract, OR WITHIN 6 YEARS FROM THE DATE OF YOUR LAST PAYMENT, it's all over for them.
Second, you can tell them this, and also tell them to go take a flying leap.
Third, if they do, in fact, sue you for the money, your Affirmative Defense would be the Illinois Statute of Limitations which bars them forever from collecting on the debt. You win.
So, check to make sure that you haven't paid any money to the original creditor, or anyone, on this debt within the past 6 years. If you haven't, you're home free.
IAAL
