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When dealing with an old debt, it's important to know your limits.
Once a debt passes beyond the statute of limitation
in your state, a debt collector no longer has the right to sue you
for payment. You may still have a moral obligation to pay back an
old, forgotten debt, but you can't be sued over it.
Any debt collector who threatens to sue you over a
debt that is beyond the statute of limitation in your state is in
violation of the Fair
Debt Collection Practices Act.
The chart below offers a state-by-state roundup of
statutes of limitations for delinquent debt. Credit
cards are considered open accounts. For the best rates on credit
cards, see our search engine. If you're being hassled about
an old debt, the chart below is a great starting point and was accurate
as of the date it was published here.
If you need legal assistance with a delinquent debt,
visit the Web site of the National Association of Consumer Advocates
and search
for an attorney with expertise in debt collection in your area.
To find your state's attorney general, click
here.
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