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12 U.S.C. 5512, 5514(b), 5532; 15 U.S.C. 1692l(d), 1692o, 7004.
85 FR 76887, Nov. 30, 2020, unless otherwise noted.
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(a) Definitions. For purposes of this section:
(1) Statute of limitations means the period prescribed by applicable law for bringing a legal action against the consumer to collect a debt.
(2) Time-barred debt means a debt for which the applicable statute of limitations has expired.
(b) Legal actions and threats of legal actions prohibited. A debt collector must not bring or threaten to bring a legal action against a consumer to collect a time-barred debt. This paragraph (b) does not apply to proofs of claim filed in connection with a bankruptcy proceeding.
[86 FR 5854, Jan. 19, 2021]