Many individuals in Ohio and elsewhere may worry that their outstanding financial obligations will continue to haunt them throughout life. While as time passes, a person’s debts might not disappear entirely, there may be restraints on the type of action creditors can take to seek payments on debts. However, should a debt collection agency convince a person to make any form of payment on an old debt, creditors may argue that the statute of limitations no longer applies.
With certain forms of debt, creditors may only have so long to take legal action against a debtor before the statute of limitations kicks in. Once this period has passed, a creditor may no longer hold the right to seek restitution by filing a lawsuit against a person. However, this might not always stop creditors from reaching out and attempting to collect on old debts and should a person make even a small payment on the debt, this form of protection may cease to apply.
Recent reports indicate that the reviving of old debts is a growing concern for many families. These reports suggest that some companies deploy creative tactics to attempt and revive old debts. Even in scenarios in which a person is tricked into or feels coerced into making any form of payment on an old debt, the situation could leave him or her facing a variety of potential consequences.
Many individuals might be unaware of their legal rights when dealing with a debt collection agency. Those who feel that they have been subjected to harassment or unlawful treatment under similar circumstances could benefit from speaking with a bankruptcy attorney for guidance on how best to proceed. An attorney in Ohio can work toward protecting a client’s legal rights and provide him or her with guidance on all the available options with which to pursue relief from the burdens of debt.