What is the a statute of limitations on debt?
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What is the a statute of limitations on debt?
I live in CA and sell real estate. In 01/05 I signed up for a $5,000 sales training course with my employer. They were supposed to take $250/closed transaction the first year and then bill my credit card for any balance remaining. I don’t know if they took anything out and never billed me for the balance. In mid-2007 I closed a large transaction and assumed that they would take the amount out of my commission check but they said they didn’t have any record of me owing anything. I left the company in 10/07. Is there a time limit for them to come after me for the cost of the training?
Asked on August 30, 2010 under Bankruptcy Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
What you had was a contract with your employer to pay for - and for them to provide - sales training. Was there anything in writing that would state the terms that you agreed to? The statute of limitations generally for contra-cs is 4 years in writing and 2 years if oral. But in certain cases it can be altered by the parties. What you also have to decide is when the cause of action "accrued" meaning when your employers right to sue you began to run. Was it the first day f the training? The last day? Did the statute of limitations become "tolled" or extended? Although it appears from the dates that the SOL has run, you may not be out of the woods just yet if it can be argued that the statute has been extended in some way. I would seek consultation in California. Good luck.
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