Inside: Home equity loans | Mortgage rates


- advertisement -
Special section Managing debts in collection

Debt collectors have to mind their p's and q's; it's the law. You may owe, but you still have rights, so use them!
 
State statutes of limitations for old debts
Page | 1 | 2 |

Statutes of limitations for each state:  
State
 Written contracts Oral contracts Promissory notes Open accounts (including credit cards)
Alabama
6 years
6 years
6 years
3 years
Alaska
6
6
6
6
Arizona
6
3
5
3
Arkansas
6
3
5
3
California
4
2
4
4
Colorado
6
6
6
6
Connecticut
6
3
6
6
Delaware
3
3
6
3
D.C.
3
3
3
3
Florida
5
4
5
4
Georgia
6
4
6
4
Hawaii
6
6
6
6
Idaho
5
4
10
4
Illinois
10
5
6
5
Indiana
10
6
10
6
Iowa
10
5
5
5
Kansas
5
3
5
3
Kentucky
15
5
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
Minnesotta
6
6
6
6
Mississippi
3
3
3
3
Missouri
10
5
10
5
Montana
8
5
8
5
Nebraska
5
4
6
4
Nevada
6
4
3
4
New Hampshire
3
3
6
3
New Jersey
6
6
6
6
New Mexico
6
4
6
4
New York
6
6
6
6
North Carolina
3
3
5
3
North Dakota
6
6
6
6
Ohio
15
6
15
6
Oklahoma
5
3
5
3
Oregon
6
6
6
6
Pennyslvania
6
4
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
6
4
6
4
Vermont
6
6
6***
6
Virginia
5
3
6
3
Washington
6
3
6
3
West Virginia
10
5
6
5
Wisconsin
6
6
10
6
Wyoming
10
8
10
8
* Six years if contract is for payment of money.
** Five years if promissory note is added to a bill of sale.
+ The applicable statue of limitations in Maine and Massachusetts on a debt owed to a bank or on a promissory note signed before a witness is 20 years. (Me. Rev. Stat. Ann. Tit.14, s 751; Mass. Gen. Laws ch. 260, s 1.)
*** Vermont's statue of limitations on a promissory note signed before a witness is 14 years.
Source: Bankrate.com
- advertisement -
Create a news alert for "debt"
-- Updated: Oct. 17, 2006
 
 
<< Previous article | Next article >>
Page | 1 | 2 |
 
 RESOURCES
Avoiding a lawsuit over credit card debt
How overdue credit card debt is traded
Defeat debt with credit card newsletters
 TOP CREDIT CARD STORIES
No stories available
 



INTRODUCTION
  Coping with debt collectors
  Fair debt collection law
  • Debt collectors calling? Know your rights
  • Statues of limitation for bad debt
  Settling the debt
  Collection errors
  Going to debtor's court
  Tools: Form letters
- advertisement -
About us
Advertise with Bankrate
Partners
Press Room
Investor Relations
Contact Us
Sitemap
Understanding Bankrate's rate averages
© 2013 Bankrate, Inc. All Rights Reserved.
Privacy Policy/Your California Privacy Rights
Terms of Use