This time is on $500 from a company that I have not heard of and they attached a copy of a Promisory Note that I signed in November, 2001. I do not know the status of limitations in Florida. Probably $500 plus court costs and attorney's fees doesn't sound like much, but my husband and I were served a little over a month ago for over $20,000 from 8 old credit card accounts that were purchased from another company.
I do not know what else to do other than fight the statute of limitations deal. Any suggestions?

ballengerb1

Do n ot admit the debt, agree to pay or settle. Do some homework for your state, the normal statute of limitations is 6 years. If you acknowledge any of these debts the statute will restart. An offer to settle for eben one cent is enogh to restart the statute. The debt remains legit after the statute but they have lost their ability to get a judgement.

lrhall41

I checked and in Florida is 5 years the SOL. Does that mean 5 years back from today when I got served or 5 years from April 23 when we go to court?

ScottGem

It means 5 years from the date of last activity on the account until a court proceeding is filed. So if the note was signed in November of 2001 and no activity was ever made, then the SOL expired in November of 2006. However, if the last activity was May of 2002, then they are within the SOL.

Lowtax4eva

Basically if you made a payment or payment arrangement any time since may 2002 then the statute of limitations has not expired.