In this podcast, attorney Frank Borgese talks about statute of limitations in regards to debt lawsuits in NY. Below you will find the audio and a full transcription.

If you are being sued over a debt, have questions regarding statute of limitations, or any other questions regarding your debt related issue, call us today at 888.668.9071 or fill out our contact form. We offer free consultations and extremely low rates. We can help you no matter where you are in the debt collection process. Let us, help you, sleep better at night.

Audio:

Transcription:

Today I want to talk about something called the statute of limitations in regards to debt lawsuits in NY. What it is, is basically the amount of time that a creditor has to file a lawsuit against you. In New York it’s generally 6 years. There are exceptions to the rule, for example, if you have a contract that specifies a different state’s laws will govern the contract, then you have to know what that state’s law is in regards to the statute of limitations. There are states out there that have 10 years, 15 years, and 20 year statute of limitations to file lawsuits. If you have a specific contract, keep that in mind because it might have a term in there that keeps the window open a lot longer than New York would otherwise allow.

Additionally, student loans are a little bit different. Federal student loans don’t have a statute of limitations and private ones are generally governed by the 6-year rule. However, things like in-school deferments and forbearances, that are applied for and granted, can delay when the clock starts to tick.

If you have any questions or concerns, or if there’s any confusion about how much time has passed, or how much longer a creditor has to pursue you in litigation, feel free to give us a call at 888.668.9071 and we’ll be happy to evaluate the situation and try to answer any questions you may have.

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