Section 1006.26 - Collection of time-barred debts(a)Definitions. For purposes of this section: (1)Statute of limitations means the period prescribed by applicable law for bringing a legal action against the consumer to collect a debt.(2)Time-barred debt means a debt for which the applicable statute of limitations has expired.(b)Legal actions and threats of legal actions prohibited. A debt collector must not bring or threaten to bring a legal action against a consumer to collect a time-barred debt. This paragraph (b) does not apply to proofs of claim filed in connection with a bankruptcy proceeding.86 FR 5854, Jan. 19, 2021 85 FR 76887, 11/30/2021; 86 FR 5854, 11/30/2021