Washington state agreed with decisions in Arizona and Colorado that a bankruptcy discharge does not trigger the statute of limitations to enforce a deed of trust. The Washington Supreme Court explained that the six-year statute of limitations period to collect a missed payment on installment debt begins to run on the date the borrower misses the payment. The final statute of limitations period to collect the debt in any manner does not begin to run until six years after the lender accelerates the debt or the debt fully matures. A bankruptcy discharge does not void or modify the contractual terms a borrower agreed to prior to bankruptcy.*
The General Bar is proud to partner with the Debt Connection Symposium & Expo! Please use promotional code GENBAR-DCS23 when purchasing your ticket to save $195.00 per person. For the direct link click here. You may share the code with co-workers or colleagues.