You receive a phone call that completely catches you off guard. A representative from CBE Group, Inc. is contacting you to discuss an outstanding personal loan balance. You have not thought about the debt for several years.
The question now is not whether you owe the money, but whether the statute of limitations has expired on CBE Group, Inc.
Many consumers are unaware that each delinquent debt carries with it a statute of limitations. This does not mean a third party debt collector cannot contact you in regards to a credit card or personal loan account.
Statute of limitations for the collection of consumer debts is the amount of time a debt collection agency such as CBE Group, Inc. has to file a lawsuit in an attempt to get you to pay off at least some of the money you owe on an outstanding debt.
The statute of limitations for third party debt collectors is one of several legal guidelines set by the Fair Debt Collection Practices Act (FDCPA).
The FDCPA and the Statute of Limitations
Enacted by the United States Congress in 1977, the FDCPA provides consumers with several legal safeguards that protect them against unethical debt collection agencies.
Here are just a few of the legal safeguards granted to consumers by the landmark FDCPA:
- Phone call from third party debt collectors limited between 8:00 am and 9:00 pm
- Consumers have 3 days to dispute the legality of a delinquent debt
- No verbal abuse
- Prohibition of making threats of any kind
- Bill collectors must clearly identify who they are and what company they represent
The FDCPA also permits each state to set a statute of limitations for third party debt collectors to file lawsuits against consumers that owe money on credit card or personal loan accounts.
One of the primary reasons for speaking with a licensed consumer protection lawyer in regards to an outstanding debt is to discover what the state where you reside has mandated for the consumer debt statute of limitations.
Another important reason to work with a FDCPA lawyer involves drafting a legally binding letter that explains to CBE Group, Inc. the statute of limitations has expired in your state.
![Statute of Limitations Expired for CBE Group, Inc.*]()
Actual Sample for CBE Group, Inc.
To Whom It May Concern:
This letter is in response to letter your agency sent to me dated November 3, 2018 regarding the account number I have listed at the top of this letter.
This letter serves as a legally binding notification that I do not want CBE Group, Inc. to contact me about this debt again, except if you tell me that future collection efforts have ended. Any other communication concerning this debt will be taken as a violation of the Fair Debt Collection Practices Act.
Sincerely,
Your Name
Next Steps to Take
Your lawyer will send the letter through certified mail to ensure CBE Group, Inc. has received the legal correspondence. A certified letter gives you the peace of mind knowing any third party debt collector understands the legal ramification of not complying with your statute of limitations notice.
Speak with a FDCPA lawyer today to learn more about the statute of limitations for the collection of consumer debts in your state.
Additional Resources
*Disclaimer: The content of this article serves only to provide information and should not be constructed as legal advice. If you file a claim against CBE Group, Inc. or any other third-party collection agency, you may not be entitled to any compensation.