Although a law of limits doesn’t forgive an obligations you owe, it can transform it into what’s called a “time-barred” personal debt. While collectors can still pursue payment for those debts, they will have no right to actually take you to court.

Although a law of limits doesn’t forgive an obligations you owe, it can transform it into what’s called a “time-barred” personal debt. While collectors can still pursue payment for those debts, they will have no right to actually take you to court. That won’t quit all...