January 28, 2021
Summary: We'll explain all of the statute of limitations for debt in New Hampshire. If you get sued for a debt use SoloSuit to respond in 15 minutes and win your case.
Are you being sued in the State of New Hampshire for an old debt? You may be asking yourself why an old creditor is filing a lawsuit against you trying to collect on a debt that you may have defaulted on many years ago. You may also wonder if the statute of limitations may have already expired on that debt. If you requested more time to pay your debt, you might have reset the clock for the statute of limitation on your debt. Let 's take a closer look at the statute of limitations laws in New Hampshire and see if you may be able to shake this old ghost that 's come back to haunt you.
Simply put, the statute of limitations in debt refers to the amount of time a litigant has to file a lawsuit. This means that if a creditor wants to sue you for a debt, they have to do so within a specific range of time, or they will forfeit the opportunity to do so later on.
The statute of limitations on debt refers to both consumer and business debt. Consumer debts are incurred by an individual primarily for personal, family, or household purposes, such as a credit card. On the other hand, business debts are debts that an individual incurred to obtain money or investments for a business. As a recourse, the creditor may file a debt collection lawsuit and ask the court to render a judgment requiring the debtor to pay the loan amount and any additional damages that the creditor may suffer, such as attorney's fees. In these cases, a debtor can receive default judgment when they fail to pay back the debt owed and fail to respond to the complaint in the lawsuit.
The real question here is, how long does a creditor have to file a collection suit against a debtor? The answer to this question depends on the statute of limitations in your state. It is critical to note that there are also different prescriptive periods depending on the type of debt an individual incurred. Let 's take a closer look at the statute of limitations on debt in New Hampshire.
The state of New Hampshire does not treat the statute of limitations for all debts the same. So it's important to note that depending on the type of debt you have, there are different timelines that a creditor has to file a lawsuit. Here are the five types of debt and the statutes of limitations for each one:
Other scenarios must be considered that will affect the statutes of limitations listed above.
First is what is called the tolling of the period. Tolling stops or pauses time from running during the period of the statute of limitation. Tolling usually takes place when a debtor requests additional time to pay on a debt. When this happens, the statute of limitations restarts. As you can see, If you started to make payments one year after you defaulted on a debt, this can significantly affect the actual timeline of the statutes of limitations on your case.
To sum it up, once a debtor makes a subsequent payment after they've defaulted, the period of limitations will be tolled. The prescriptive period will continue after the debtor fails again in paying their obligation, which restarts the clock again. So, if you requested additional time to make payments on your debt, you will need to consider this when calculating the prescriptive period for your lawsuit.
The second scenario would be in the case of installments. As a rule, each separate payment in an installment loan has a different period of limitations. The exception here takes place when there is an acceleration of the loan.
For all the statute of limitations laws listed above, it is essential to remember that the creditor can not file the collection lawsuit outside of the period of limitation provided by the law. If your creditor is filing a lawsuit against you and confirm that the statutes of limitations passed, you can include this in the Answer you file with the court.
We hope this information helps you know if it is too late for that old creditor to hunt you down to pay that lingering debt or if they are playing by the rules.
SoloSuit makes it easy to respond to a debt collection lawsuit.
How it works: SoloSuit is a step-by-step web-app that asks you all the necessary questions to complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
Here's a list of guides for other states.
Being sued by a different debt collector? We're making guides on how to beat each one.
Need more info on statutes of limitations? Read our 50-state guide.
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