Collecting on a debt is something that comes with time limits. In Florida, there’s a five-year limit for collecting on a debt. This clock starts when the person misses their first payment. It restarts with each payment they make on the debt.
Once a debt expires, it’s illegal for a debt collector to try to sue the person for collection. Some debt collectors will try to revive a time-barred debt by having the person make a payment on it so the clock restarts. You have to be careful that you don’t misrepresent your intentions and abilities if you do this.
How can you encourage a debtor to pay?
There are very specific laws regarding how you can try to collect a debt. The Fair Debt Collection Practices Act sets time limits and other criteria for debt collection. For example, you can’t call before 8:00 in the morning or after 9:00 at night. You also can’t use obscene language or issue threats of violence.
In Florida, debtors can’t be thrown in jail, so you can’t threaten them with arrest. You can only tell them that you’re going to sue them if you don’t actually plan on doing so.
Collecting on a debt is sometimes difficult to do. You have legal options at your disposal. If you’re going to use those, it’s best to get started quickly. This doesn’t mean that you need to file a lawsuit for everyone who’s a little late, but it does mean that you should keep a close eye on when the debt will become time-barred. Working with someone familiar with Florida’s debt collection laws might make it a little easier to get what’s due to you.