A: The counting of time for the Statute of Limitations (SOL) goes from the last payment, not when the debt was incurred. If the SOL has expired (tolled) from your last payment, you should tell the collector to take a walk. SOL is not an absolute bar to suit. If they sue you, you should raise SOL as a Defense. Additionally, a SOL is shorter than the period permitted to list something on a credit report, so even if the SOL has tolled, it may still correctly appear on your credit report.
