Statute of limitations on bank overdraft

Q. Will a bank wait years before they collect money from you that they say you owe? A collection agency called and said I overdrew my bank account in 2007, eleven years ago.
A. The Illinois statute of limitations governs any claim against you if you are in Illinois. The relevant Illinois limitations period on an overdraft is 5 years. There are federal and state cases in point.
It is possible that the call is a scam. Wait and see if you get a "notice of debt" as required by the Fair Debt Collection Practice Act. It must be sent within 5 days of the first communication.
The caller probably violated the Fair Debt Collection Practices Act, although if they are a scammer they are not worth suing.
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