It is common nowadays for consumers to actually be delinquent in paying their respective bills. In fact, many consumers even end up declaring bankruptcy because they have been so delinquent payers. Remember that most of American consumers right now actually prefer spending using their credit cards rather that using cold cash. In this case, these consumers also fall into the trap of overspending, causing them to have lower credit scores.

Remember that one of the basic reasons why consumers choose credit cards over cash is because of the convenience that it brings, especially when talking about expenditures. In fact, when you are using a credit card, you do not have to limit your spending on the dollars that is in your wallet. Plus, credit cards also make you spend easily in most of the commercial establishments, and may even bring certain discounts. However, due to this convenience, many consumers also fall unto the trap of mismanaging their expenditures, making them have lower credit scores and being trapped into debt.

Given this situation, consumers that have low credit scores and dues are even exposed to additional stress and frustration. This is due to the harassing calls that credit collection agencies give you. It may be a consequence of your delinquency why collection agencies actually come to collect your dues. However, it foes not give the enough reason to frustrate you even more.

Remember that it is one thing to be stressed because you had low credit scores and have many bills to pay, and it is another thing to be stressed further by harassment through phone. In such situations, remember that there is actually a law that protects you. This is the Statute of Limitations, or SOL.

Every state has different credit Statute of Limitations. However, the important fact to remember is that, wherever state you are the credit Statute of Limitations (SOL) is there to protect you from unjustified collection agency behaviour. And another good fact to take note is that all credit collection companies are required to follow the SOL.

Depending on which state you are, there are different ways on implementing this statute. It is important for you to contact the Attorney General of your respective state when you want to know the details about the SOL in your area. There are sates wherein the law of the foreign state is going to be applied; meanwhile, there are also states in which the laws of state of the resident apply. In any case, the rule that the credit collection agency will follow is the credit card agreement that is signed by the debtor.

The statute of limitations actually states that it takes only a specific period of time wherein they can sue you, for you to be forced to pay your dues. This already starts the period that you are not able to pay on time. However, there are also credit collection companies that report your delinquency to credit rating agencies, which in turn affects your credit score.