What Is The Statute Of Limitations For A Debt Buyer Or Collection Suit In Alabama?
When Alabama consumers are sued, one of the first questions people ask is “What is the statute of limitations” on collection suits brought by debt buyers. Let’s take a moment and examine this question. First, a suit begins when a lawfirm such as Zarzaur & Schwartz, PC or Nathan & Nathan or Nadler & Associates files suit on behalf of debt buyers such as Palisades, Unifund, Asset Acceptance, LVNV, Midland Credit, etc. Normally the suit is brought under one or more of the following: Breach of Contract, Open Account, or Stated Account (Account Stated). Second, the statute of limitations (SOL) means the time period in which the plaintiff (here the collector or junk debt buyer) has to sue before it is too late. Third, the reason this is such a critical question is because a suit brought after the statute of limitations has expired is due to be dismissed and the debt buyer (and often the lawyer who brought the suit) can be sued under the Fair Debt Collection Practices Act (FDCPA) as it violat
