Debt collection is a complex process, and understanding the statute of limitations is crucial for both creditors and debtors. Each State in the United States has its own laws regarding the time limit within which a creditor can legally pursue debt collection. These statutes of limitations protect consumers from excessive and unfair debt collection practices. In this article, we provide a comprehensive State-by-State list of the statute of limitations on debt collection, shedding light on the rights and obligations of both parties involved.
It is important to note that the statutes of limitations mentioned above are subject to change and may vary depending on the specific circumstances of each case. It is always advisable to consult with a legal professional or debt relief expert to understand the applicable statute of limitations in your state and its implications on debt collection efforts.
Explanation of Debt Types:
Open Accounts: These include debts arising from ongoing credit arrangements, such as credit cards or lines of credit. They usually have shorter statute of limitations periods.
Promissory Notes: This category encompasses debts backed by a written promise to repay a specific amount at a defined time or in installments.
Written Contracts: These debts are established through written agreements, such as loans or purchase contracts.
Oral Contracts: These debts result from spoken agreements without written documentation. The statute of limitations for oral contracts can vary.
Understanding the statute of limitations on debt collection by state is essential for creditors and debtors alike. These laws provide a framework that balances the rights of creditors to collect legitimate debts with the need to protect consumers from unfair practices. By being aware of the statute of limitations in your state, you can make informed decisions and take appropriate action regarding debt collection.
Remember to seek professional advice when dealing with debt collection to ensure you understand your rights and obligations within the confines of the statute of limitations.
The following chart presents the statute of limitations for debt collection in all 50 States:
State | Open Accounts | Written Contracts | Promissory Notes | Oral Contracts |
Alabama | 3 years | 6 years | 6 years | 6 years |
Alaska | 3 years | 3 years | 3 years | 3 years |
Arizona | 3 years | 6 years | 6 years | 3 years |
Arkansas | 3 years | 5 years | 5 years | 3 years |
California | 4 years | 4 years | 4 years | 2 years |
Colorado | 3 years | 6 years | 6 years | 6 years |
Connecticut | 3 years | 6 years | 6 years | 3 years |
Delaware | 3 years | 3 years | 3 years | 3 years |
Florida | 4 years | 5 years | 5 years | 4 years |
Georgia | 6 years | 6 years | 6 years | 4 years |
Hawaii | 6 years | 6 years | 6 years | 6 years |
Idaho | 4 years | 5 years | 5 years | 4 years |
Illinois | 5 years | 10 years | 10 years | 5 years |
Indiana | 6 years | 10 years | 10 years | 6 years |
Iowa | 5 years | 10 years | 10 years | 5 years |
Kansas | 3 years | 5 years | 5 years | 3 years |
Kentucky | 5 years | 15 years | 15 years | 5 years |
Louisiana | 3 years | 10 years | 10 years | 3 years |
Maine | 6 years | 6 years | 6 years | 6 years |
Maryland | 3 years | 3 years | 6 years | 3 years |
Massachusetts | 6 years | 6 years | 6 years | 6 years |
Michigan | 6 years | 6 years | 6 years | 6 years |
Minnesota | 6 years | 6 years | 6 years | 6 years |
Mississippi | 3 years | 3 years | 3 years | 3 years |
Missouri | 5 years | 10 years | 10 years | 5 years |
Montana | 5 years | 8 years | 8 years | 5 years |
Nebraska | 4 years | 5 years | 6 years | 4 years |
Nevada | 4 years | 6 years | 6 years | 4 years |
New Hampshire | 3 years | 3 years | 6 years | 3 years |
New Jersey | 6 years | 6 years | 6 years | 6 years |
New Mexico | 4 years | 6 years | 6 years | 4 years |
New York | 6 years | 6 years | 6 years | 6 years |
North Carolina | 3 years | 3 years | 5 years | 3 years |
North Dakota | 6 years | 6 years | 6 years | 6 years |
Ohio | 6 years | 8 years | 15 years | 6 years |
Oklahoma | 3 years | 5 years | 5 years | 3 years |
Oregon | 6 years | 6 years | 6 years | 6 years |
Pennsylvania | 4 years | 4 years | 4 years | 4 years |
Rhode Island | 10 years | 10 years | 10 years | 10 years |
South Carolina | 3 years | 3 years | 3 years | 3 years |
South Dakota | 6 years | 6 years | 6 years | 6 years |
Tennessee | 6 years | 6 years | 6 years | 6 years |
Texas | 4 years | 4 years | 4 years | 4 years |
Utah | 4 years | 6 years | 6 years | 4 years |
Vermont | 6 years | 6 years | 6 years | 6 years |
Virginia | 3 years | 5 years | 6 years | 3 years |
Washington | 3 years | 6 years | 6 years | 3 years |
West Virginia | 5 years | 10 years | 10 years | 5 years |
Wisconsin | 6 years | 6 years | 10 years | 6 years |
Wyoming | 8 years | 10 years | 10 years | 8 years |
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