A debt collector can take you to the court even after the end of the SOL period, but he cannot win the case.

What does this SOL mean? Can anybody tell me with example?

2 Answers
Votes: 
4 votes
+
Vote up!
-
Vote down!

Statute of Limitations (SOL) is a period within which your creditors can sue you for non-repayment of debt. A debt collector can take you to the court even after the end of the SOL period, but he cannot win the case. However, you legitimately owe the debt even when the SOL has expired.

Votes: 
2 votes
+
Vote up!
-
Vote down!

An SOL or Statute of Limitations is an enactment in the legal system that sets the maximum period which one can wait before filing a lawsuit, depending on the type of case or claim.

See the link provided for details: https://www.ovlg.com/laws/statute-of-limitation.html


Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

BBB-A--Rating