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Did you know there is a legal Statue of Limitations that,
when passed, can protect you against creditor lawsuits. It’s
true.If too much time has passed on your delinquent debt, the
creditor may not be able to legally do anything about it. This
is good news if you possess older, more delinquent debts. What
follows is information on Debt Statute of Limitations. This is
very useful if you are in the middle of a legal dispute with a
creditor. Just because the statute has expired does not mean
you no longer owe the money. It merely means that the creditor
cannot sue you to collect it. It will still appear on your
credit report. It also means the creditor could still harass
you to collect on it. Here are three resources you should
review that govern what a creditor can do to collect debts.
1) State Chart. The length of time for the statute of
limitations varies by state. Below, you will see a chart
showing recent state guidelines and time frames on the
statutes in number of years. This information could change at
any time, so be sure to do your own research. Also, check with
your state or local resources to confirm this information.
2) Your rights as a debtor are explained in the Fair
Debt Collection Practices Act. The full text of this law
can be found.
3) The Fair Credit Reporting Act explains you’re your
delinquency can be reported and what you can do to ensure it
is reported accurately.
These laws provide information about the protection of your
rights against harassment. When used alongside the Statute of
Limitations guidelines, you can protect yourself from many
unethical practices. However, as mentioned earlier, it cannot
protect you against everything.
The Statute of Limitations only pertains to lawsuits and is
not something that affects other collection measures. Your
account can still be sent to a third party collection agency.
You may still receive collection calls or letters. In reality,
the Statute of Limitations does not prevent a creditor from
filing a law suit against you. However, the statute does
enable you to have a case dismissed if the limitations have
expired since the debt was charged off. Most creditors will
not bother to file because they know this law. However, many
wil still threaten suit so it pays to know your rights.
Knockout Debt is made up of debt experts. We know the laws and can provide you a FREE consultation on our services. We can typically reduce your entire debt load by 40-60%. Even if the statute of limitations has expired for your debts, you still owe the money. We can help you by negotiating a settlement that will save you thousands of dollars. To receive your free debt settlement consultation please fill out the form on the right or call us toll free at 888-443-3328. Become debt free today!
LIST OF INDIVIDUAL STATE STATUTE OF LIMITATIONS
| State |
Oral
Agreements |
Written
Contracts |
Contracts
Notes |
Open
Accounts |
| |
|
|
|
|
| Alabama |
6 |
6 |
6 |
3 |
| Alaska |
6 |
6 |
6 |
6 |
| Arizona |
3 |
6 |
5 |
3 |
| Arkansas |
3 |
5 |
6 |
3 |
| California |
2 |
4 |
4 |
4 |
| Colorado |
6 |
6 |
6 |
6 |
| Connecticut |
3 |
6 |
6 |
6 |
| Delaware |
3 |
3 |
6 |
3 |
| D.C. |
3 |
3 |
3 |
3 |
| Florida |
4 |
5 |
5 |
4 |
| Georgia |
4 |
6 |
6 |
4 |
| Hawaii |
6 |
6 |
6 |
6 |
| Idaho |
4 |
5 |
10 |
4 |
| Illinois |
5 |
10 |
6 |
5 |
| Indiana |
6 |
10 |
10 |
10 |
| Iowa |
5 |
10 |
5 |
5 |
| Kansas |
3 |
5 |
5 |
3 |
| Kentucky |
5 |
15 |
15 |
5 |
| Louisiana |
10 |
10 |
10 |
3 |
| Maine |
6 |
6 |
6 |
6 |
| Maryland |
3 |
3 |
6 |
3 |
| Massachusetts |
6 |
6 |
6 |
6 |
| Michigan |
6 |
6 |
6 |
6 |
| Minnesota |
6 |
6 |
6 |
6 |
| Mississippi |
3 |
3 |
3 |
3 |
| Missouri |
5 |
10 |
10 |
5 |
| Montana |
5 |
8 |
8 |
5 |
| Nebraska |
4 |
5 |
6 |
4 |
| Nevada |
4 |
6 |
3 |
4 |
| New Hampshire |
3 |
3 |
6 |
3 |
| New Jersey |
6 |
6 |
6 |
6 |
| New Mexico |
4 |
6 |
6 |
4 |
| New York |
6 |
6 |
6 |
6 |
| North Carolina |
3 |
3 |
5 |
3 |
| North Dakota |
6 |
6 |
6 |
6 |
| Ohio |
6 |
15 |
15 |
- |
| Oklahoma |
3 |
5 |
5 |
3 |
| Oregon |
6 |
6 |
6 |
6 |
| Pennsylvania |
4 |
6 |
4 |
6 |
| Rhode Island |
15 |
15 |
10 |
10 |
| South Carolina |
10 |
10 |
3 |
3 |
| South Dakota |
6 |
6 |
6 |
6 |
| Tennessee |
6 |
6 |
6 |
6 |
| Texas |
4 |
4 |
4 |
4 |
| Utah |
4 |
6 |
6 |
4 |
Fill out the form to the right to get your free consultation from Knockout Debt. The Knockout Debt can help you get rid of credit card debt fast with an affordable plan. A typical client will reduce their debt by 40-60% and can get out of debt in 12-36 months. Once you fill out the form for your free debt consultation, one of our Senior Debt Consultants will contact you to discuss how we get rid of credit card debt. If you honestly want to get out of debt and want a professional opinion immediately, you can also call us toll-free at 888-443-3328.
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