Cover of Out of Stat Debt compliance workbook with image of hourglass [Image by creator  from ]

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The ins-and-outs of collecting on out-of-stat debt offers a challenge -- with some reward -- to agencies willing to put in the work to stay compliant while working these kinds of accounts. 

But there is some significant background work necessary, including knowing each state's SOL, knowing whether to use the consumer's state of residence or the creditor's, and calculating when to start the countdown clock. This Compliance Workbook will walk you through what you need to know.

The workbook includes:

  • Introduction
  • Webinar Playback
  • State by State Listing
  • Draft Scripting/Disclosures
  • Webinar slide deck

Webinar Q&A

  • For various reasons, the situs of the borrowed SOL may change.  If the consumer was supposed, for example, to pay in several different places over the life of the account, how does one choose which statute to borrow?
  • When using your OOS calculation, if the contract has a choice of law provision, which state law do you use in determining the statute of limitations?
  • I work for a college in NYS and we are not a collection agency, but the creditor.  Once an account has made the rounds of 3 collection agencies (1 year at each agency), is it okay to just simply send a billing statement each month or should we also follow the SOL for simple statements as well?
  • What are your thoughts with regards to states that do not have SOL disclosure requirements. Do you suggest that we provide a standard SOL disclosures?