You may start to receive phone calls or letters from creditors if you are more than 30 days past due on a credit card or other type of debt payment. If you fail to make a payment within 180 days of its original due date, the account may be transferred to a Missouri debt collection company.
How long do debt collectors have to pursue a debt?
In the state of Missouri, a debt collector may have up to a decade to pursue a credit card or other type of outstanding debt balance. This is true if you signed a written contract or promissory note agreeing to make payments by a certain date each month. Debt collectors in Missouri have up to five years to collect a balance if there is no written contract or promissory note.
You may be contacted after the statute of limitations expires
A debt collector cannot file a lawsuit or otherwise compel you to make a payment after the statute of limitations has run out. However, this doesn’t mean that a debt collection agency won’t attempt to collect what it is owed. It is important to note that the statute of limitations clock resets if you make a partial payment on an old debt. Furthermore, a judge may rule in favor of a debt collector if you don’t appear in court to answer a lawsuit that is filed after the statute of limitations expires.
Ideally, debt collectors will adhere to state and federal consumer protection laws. However, if they don’t, an attorney may be able to help protect your rights. A legal professional may use recorded phone calls, certified letters or other evidence to show that you are being harassed about a debt that isn’t yours or cannot legally be collected.