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Debt Collection in NJ: What You Need to Know | NJ Lawyers The Debt Collection Process. Generally, debt collectors are bound by the FDCPA. Unfortunately for gamblers, casinos (like banks) aren’t considered debt collectors because debt collection isn’t their primary line of business. The FDCPA only applies if the casino assigns the debt to a collection agency. Best Debt Collection Companies | ConsumerAffairs
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The statute of limitations is the amount of time a debt collector can legally sue you for a delinquent debt. The statute of limitations varies by state and usually ranges from three to six years. Debt collectors might try to sue you even if the statute of limitations has expired, but you have to prove, in court, that the time for a lawsuit has expired to have the lawsuit dismissed.
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Journal of Legal Issues and Cases in Business An overview of the enforceability, page 3 v. Lum7 Justice Oliver Wendell Holmes, Jr., ruled that a gambling debt incurred in Mississippi between two Mississippians8, which was submitted to arbitration and later reduced to judgment in Missouri, could be enforced in Mississippi as the judgment of a sister state entitled to full faith How to Start a Third Party Collections Agency | Chron.com 4. Determine the types of debt collection in which to specialize. Types of debt collections include credit card, auto, mortgage, student or business loan. Questions to Answer Before You Pay a Debt Collection The statute of limitations is the amount of time a debt collector can legally sue you for a delinquent debt. The statute of limitations varies by state and usually ranges from three to six years. Debt collectors might try to sue you even if the statute of limitations has expired, but you have to prove, in court, that the time for a lawsuit has expired to have the lawsuit dismissed. Gambling and Debt - Problems & Compulsive Behavior