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Statute Barred Debt
Manage episode 446388050 series 3602995
Contenido proporcionado por Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.
This excerpt from a blog post on "Corporate Debt Recovery" discusses statute-barred debt, which occurs when a creditor can no longer legally pursue a debt after a certain period. The text explains the concept, outlining the different types of debts that can become statute-barred, and the implications for both creditors and debtors. It explores the benefits of having a debt become statute-barred, including relief from court action and the ability to focus on rebuilding finances. The post concludes by advising readers on what to do if contacted about a statute-barred debt, emphasizing the importance of knowing one's rights and seeking legal counsel when necessary
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