So, if your debt is past the statute of limitation, debt collectors can no longer sue you for your unpaid debt. The statute of limitations varies by state but generally does not exceed 10 years.

That's why verifying a debt collection account is crucial before making any payments or agreeing to a repayment plan. Without proper verification, you could end up paying for something you don't owe.

Debt collection can be a stressful process for consumers, but TrueAccord’s digital-first approach, powered by automation, aims to offer a more empathetic and transparent interaction.

The global debt collection software market size is expected to grow at a CAGR of 9.9% from 2022 to 2028; it is projected to reach USD 6.06 billion in 2028 from US$ 3.17 billion in 2021.New York ...