Debt collection statute of limitations
Debt collection statute of limitations A statute of limitations on debt collection serves as an attribute for the default collection of time-framed debts and the acts, defining the same frames. The laws, controlling DCA’s (Debt Collection Agency) recovery process of time-barred debts, are called statutory laws and determine different expiry dates, depending on the country. The statute of limitations for debt collection generally represents a specific deadline for filing legal procedures by the creditor or the DCA (Debt Collection Agency), hired by him.