News & Analysis as of

Statute of Limitations Debt Collection Creditors

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Hendershot Cowart P.C.

How Long Does a Judgment Last in Texas?

If you've won a lawsuit and obtained a money judgment in Texas, how long do you have to collect this debt? The short answer is 10 years. However, Texas judgments don't simply expire after a set period. They follow a...more

Troutman Pepper Locke

Colo. Bankruptcy Ruling Clarifies Debt Collection Rules

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On April 24, the Colorado Supreme Court issued its highly anticipated decision in U.S. Bank National Association v. Silvernagel. The decision made Colorado the latest state to recognize that a borrower’s bankruptcy...more

Goodwin

New York Governor Hochul Signs Consumer Credit Fairness Act, Creating Significant Changes for Debt Collection Actions Brought in...

Goodwin on

On November 8, 2021, New York Governor Kathy Hochul signed the Consumer Credit Fairness Act (the Act) into law. The Act will likely have substantial impact on debt collection lawsuits filed by creditors or debt collectors in...more

Sheppard Mullin Richter & Hampton LLP

New York Enacts Consumer Credit Fairness Act, Impacting Debt Collection Actions

On November 8, New York Governor Kathy Hochul signed into law the Consumer Credit Fairness Act (Act) (S.153/A.2382). The Act contains a series of amendments to New York’s Civil Practice Law and Rules (CPLR) that...more

Troutman Pepper Locke

New York Enacts Consumer Credit Fairness Act, Amending Civil Practice Law and Rules and the Judiciary Law

Troutman Pepper Locke on

On November 8, New York Governor Kathy Hochul signed into law the Consumer Credit Fairness Act (Act) (Legislation S.153/A.2382). The Act amends provisions of New York’s Civil Practice Law and Rules, commonly referred to as...more

Hudson Cook, LLP

Statutes of Limitations: Some Guidance for Vehicle Finance from the Ninth Circuit

Hudson Cook, LLP on

Many finance companies, debt buyers, debt collectors, and collection law firms wrestle with the question of which statute of limitations to apply when collecting a deficiency balance on a retail installment contract. States...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

Carlton Fields on

Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Spilman Thomas & Battle, PLLC

What Bank Litigators Want Banks to Know About the State of Consumer Protection Litigation in W.Va.

For decades, consumer protection has led to copious amounts of litigation in West Virginia. In the past several years, the types of lawsuits filed under the debt collection provisions of the West Virginia Consumer Credit and...more

Poyner Spruill LLP

Can I Be Sued for Filing a Time-Barred Claim? Fourth Circuit Weighs In

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Whether it’s a conscious decision or an inadvertent mistake, creditors sometimes try to recover on an old claim that is no longer enforceable by law. A debt collection lawsuit filed by a creditor can be dismissed if the...more

Gray Reed

Partner Liability: Out of the Woods?

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Debbett Runnup Partnership, a Texas general partnership, was sued by Widgets R Us in 2010 for failing to pay Widgets R Us invoices. Judgment was granted to Widgets in 2012 against Debbett Runnup for $300,000. After chasing...more

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