Consumer debt collection efforts come with a statute of limitations that places a time limit on third party debt collectors that pursue the collection of outstanding debts. The amount of time a debt collection agency such as Glass Mountain Capital, LLC. has to try to collect an outstanding consumer debt depends on state law.
Most states have declared the statute of limitations for collecting outstanding credit card and personal loan accounts begins on the first due date of a debt. Although a statute of limitations has expired on a consumer debt, savvy debt collection agencies try to revive the debt by getting consumers to acknowledge the validity of a delinquent debt.
If you say anything that is recorded or sign a document acknowledging the existence of a consumer debt, then you have waived your legal right to use the statute of limitations to prevent Glass Mountain Capital, LLC. from pursuing debt collection efforts.
Draft a Notice in Accordance with the Fair Debt Collection Practices Act
Under pressure from consumer groups to establish legal protections against unsavory third party debt collectors, the United States Congress passed the groundbreaking Fair Debt Collection Practices Act (FDCPA) in September of 1977. The FDCPA establishes the legality of a consumer debt collection statute of limitations, while each state is responsible for mandating the amount of time bill collectors have to sue consumers for the payment of outstanding credit card and personal loan accounts.
Remember that the FDCPA provision on the statute of limitation applies to lawsuits, not the letters sent and phone calls made by a third party debt collector such as Glass Mountain Capital, LLC. If your consumer protection lawyer advises you to send a cease and desist letter, you prevent a debt collection agency from making further contact with you.
A cease and desist letter sent by certified mail provides your legal counsel with evidence that a third party debt collector has received the request to cease and desist from making contact with you. By working with a licensed FDCPA lawyer, you ensure a cease and desist letter contains the proper legal language to allow a court to enforce the legal intent of the FDCPA provision.
Actual Sample Notice
A notice sent to Glass Mountain Capital, LLC. that the statute of limitations has expired on an outstanding debt requires the legal expertise of an experienced consumer protection lawyer. You want the notice to include language that focuses on FDCPA provisions.
Your lawyer will refrain from making personal attacks and instead, draft a notice that sets the tone for possible future legal action. Consumers that write their own cease and desist letters often make several mistakes that include acknowledging the existence of a delinquent credit card or personal loan account.
Acknowledging an outstanding debt can restart the statute of limitations clock. Make sure the notice does not confuse the statute of limitations with the federally mandated credit reporting time limit. The statute of limitations for collecting consumer debts is set by state law, while federal law limits the amount of time a consumer debt can appear on a credit report.
Speak with a FDCPA lawyer to send a notice to Glass Mountain Capital, LLC. that the statute of limitations has expired on a consumer debt.
*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 Glass Mountain Capital, LLC. or any other third-party collection agency, you may not be entitled to any compensation.