What Are the Statute of Limitations of Old Debts In Each State?

A statute of limitations defines the period within which legal action may be taken. When it comes to old debts, once it is older than the statute of limitations in a client’s state, a debt collector no longer has the right to sue for payment.

If a debt collector sues after the statute of limitations, he or she is in violation of the Fair Debt Collection Practices Act.

According to Bankrate, the statute of limitations for delinquent debt for written contracts, oral contracts and promissory notes in Alabama is 6 years, while open-ended accounts (including credit cards) is 3 years. For Arizona, it’s 5 years for written contracts and 3 years for oral contracts, promissory notes, and open-ended accounts. Kentucky, on the other hand, it’s 10 years for written contracts, 5 years for oral contracts, 15 years for promissory notes and 5 years for open-ended accounts.

For a more detailed list of the statute of limitations for the 50 states and the District of Columbia, visit Bankrate here.

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