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    Broke in Texas's Avatar
    Broke in Texas Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 4, 2006, 03:06 PM
    Cash Out??
    Can any legal action be taken by a collection agency if the statute of limitation has run out on a debt?

    I have several credit cards that I have not paid on in 3 years due to a much reduced income. I'm thinking about cashing out the equity in my house so that I can pay them off, but the statute of limitation in Texas is 4 years, so there is only a year left.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Nov 5, 2006, 01:13 PM
    If the SOL is 4 years, then in another year, they cannot sue you.
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