State-by-State List of Statute of Limitations on Debt

statute of limitation is the amount of time a person can take legal action on a certain event. When it comes to debt, the statute of limitation is the amount of time a creditor can ask the court to force you to pay for a debt. The court system doesn’t keep track of the statute on your debt. Instead, it’s your responsibility to prove the debt has passed it’s statute of limitation.

Time-Barred Debts

Debts that have passed the statute of limitation are known as time-barred debts. Just because the debts have aged past the statute of limitation doesn’t mean you no longer owe. It just means the creditor won’t get a judgment against you – as long as you come to court prepared with proof the debt is too old. Proof might include check showing the last time you made a payment or your own records of communication you’ve had about that debt.

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