New Visitors Privacy Policy Sponsorship Contact Us Media
Baby Boomers Family Green Home and Auto In Critical Condition Just Starting Out Lifestyle Money
- advertisement -
Bankrate.com
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Equity
Auto CDs &
Investments
Retirement Checking &
Savings
Credit
Cards
Debt
Management
College
Finance
Taxes Personal
Finance

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

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
 
 
 
 
 
 
 
 
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2014 Bankrate, Inc., All Rights Reserved, Terms of Use.