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Statute Barred Debt
Manage episode 446388050 series 3602995
Conteúdo fornecido por Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson. Todo o conteúdo do podcast, incluindo episódios, gráficos e descrições de podcast, é carregado e fornecido diretamente por Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson ou por seu parceiro de plataforma de podcast. Se você acredita que alguém está usando seu trabalho protegido por direitos autorais sem sua permissão, siga o processo descrito aqui https://pt.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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