In 2022, we eliminated over $15 million of client debt!
(This does not include debt eliminated by bankruptcy filings)
California Statute of Limitations on Debt
California's Statute of Limitation Generally Speaking is How Long?
Sometimes this is very easy to spot (such as the date of an accident) and other times it can be difficult to determine it exactly. As it pertains to debts, specifically say credit card debt, the creditor has 4 years from the date the written contract was “breached."
Typically the breach occurs when no payment is made. This why it is important to know when you made your last payment. Generally the creditor has a record of your payments, but they are not always reliable. Also remember that the date of your last payment is not your breach date. It is the date the next payment was due and no payment was made.
This is why many advise to not make a payment on an account when the statute of limitations is about to expire, as this may reset the clock and thereby allow the creditor more time to file a lawsuit.