It took a lot of encouragement to feel comfortable sending it.

I’m sure I’ll get a mountain of blowback from those people

who feel like I am helping you cheat the system.

However, I felt obligated to share the following secret.

This secret is a 100% legal way to NOT pay your bills. (It isn’t really a
“secret” at all yet so few people bother
researching it so it is often ignored.)

Ok – here it is: Use the Statute of Limitations
to NOT Pay Your Bills

Here’s how it works:
The statute of limitations is a legalism created
by our lawmakers. It creates time limits on
certain debts.

In other words, you may not have to
pay certain debts after a certain amount of time
passes. (I think of it like a “shot clock” for
creditors).

I don’t want to get into a super detailed explanation here

because it could go on for pages and I’m not a statute of

limitations lawyer.

However,  I can tell you about the basics which include the following:

-    The statute of limitations for credit card debt
is usually between 4-6 years. (check your local
state laws here at bankrate.com)

-    A payment or a promise to pay tolls the statute
of limitations. So, if you made a small payment
towards an old bill, the clock will start from the
beginning.

-    The statute of limitations eliminates your

legal obligation to pay a debt…not your moral

obligation to pay that debt.

In other words, if a creditor tries to sue you to collect
an expired debt, you could use the statute
of limitations as as defense.

-    Creditors and collection agencies will keep
trying to collect expired debts. They assume
(correctly) that most people are ignorant about
how to use the statute of limitations to their advantage.

-    The statute of limitations will not stop bill collectors
from calling and trying to get money
from you.

(sorry, it can’t help you in this
department – but you can at least feel better
knowing that any threats a bill collector makes
to sue you are just empty threats)

I’m sure that I’ll get some hate mail because I sent out this information.

However, I’m in no way encouraging you not to pay your bills.

My job is to educate you. Laws are created for a
reason. It’s not my job to judge whether those
laws are fair or not.

My opinion is that these
laws were created for some good reasons and that
we should use them to our advantage.

If you can use the statute of limitations as
leverage when dealing with unethical, unlawful, or
rude bill collectors, then I’ve done my job.

By the way, by the time the statute of limitations expires on a debt,
it has usually been bought and
sold so many times that the current creditor probably
paid no more than one or two pennies on the dollar.

Often that same bill collector will try to add ridiculous interest
and fees and attempt to gouge you for 150-200% of the
original debt.

If you have any questions or comments, feel free
to post directly below