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Is there a legal time frame to collect a charge off debt that has been recently acquired by a second party from the original creditor if the charge off is 10 years old?
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There are not laws that pertain to how long a debt is collectible or how long collection action can be taken. There are statute of limitations regarding the length of time a lawsuit can be filed against the debtor for the recovery of monies owed. States establish laws regulating SOL's and their application to different types of debts.

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Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Debt and Bankruptcy > Debt Collection > Debt Counselors and Consolidation > Is there a legal time frame to collect a charge off debt that has been recently acquired by a second party from the original creditor if the charge off is 10 years old?

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