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    BUKETTES's Avatar
    BUKETTES Posts: 1, Reputation: 1
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    #1

    Jun 22, 2011, 04:03 PM
    Debt notification
    Does a business have to notify the consumer about a debt owed within a reasonable amount of time? Or can they let the debt build up over 3 years and then ask to collect it for the 1st time?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jun 22, 2011, 04:22 PM

    Depends on circumstances. Did you get regular statements until the account went into arrears?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jun 22, 2011, 06:25 PM

    More details please.

    Example, you owe bill, they send statement for 6 months and you don't pay. They sell it to a debt collection, who may do nothing for a year, then they could start collection if they wanted to still
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    Jun 23, 2011, 06:44 AM
    Quote Originally Posted by BUKETTES View Post
    OR CAN THEY LET THE DEBT BUILD UP OVER 3 YEARS AND THEN ASK TO COLLECT IT FOR THE 1ST TIME?
    Hello B:

    They certainly CAN. But, it's a STUPID way to run a business. Not only does it piss you off, the store winds up collecting much LESS than it would if it went about it in a reasonable manner.

    excon
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