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No. There is no statute of limitations "for a guarantor". However, there are statutes of limitations for different categories of debts. Statutes of limitation vary from jurisdiction to jurisdiction and for different types of contracts. For example a five year lease, a thirty year mortgage, a six year car loan. However, in the case of a default by the primary borrower, a creditor will generally seek payment from the guarantor prior to the tolling of the statute of limitations.

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16y ago

Check with your State Attorney General Office

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Q: When does the statute of limitations begin to run against a guarantor of a debt?
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When do statute of limitations begin?

This depends on the underlying law and circumstances. Many times a statute of limitations will begin when the relevant injury occurs or when a reasonable person would have discovered the relevant injury.


When does the statute of limitations on credit card debt begin in California?

I believe the statute starts to run from the date of last activity


Does the statute of limitations begin at the time the crime occurs or when it is discovered?

It will depend on the laws of the jurisdiction. In most cases it will be from discovery.


When does the statute of limitations begin for fraud in California?

It would begin when the fraud was discovered. If it involved public funds, there would be no limit, otherwise it is either 3 or 6 years.


What is the statute of limitations on bigamy in Indiana?

This is going to be tricky. As long as the individual is married to two individuals, the time is not going to begin, as the crime is continuing to be committed. The second marriage is going to be held invalid. But the standard statute of limitations for a felony is 5 years in Indiana.


Apartment debt Georgia statute of limitations?

This would be a civil law suit. In Georgia the statute of limitations is 2 years. There may be time added based on discovery of the injury. Consult an attorney in Georgia for specifics. From a money standpoint, as long as you are living in the rental location, the statute of limitations will not begin to count.


When does the statute of limitations begin on an auto loan in new york state?

It starts when the loan agreement is signed by the Borrower and Lender. At that point the contract is in effect.


When did the statute of limitations for robbery begin?

It starts on the date of the robbery. Or it may start on the date the robbery was discovered. Some others list it as the date the crime is reported.


What is the statute of limitations for forgery in Texas?

The statue of limitation as many disclaimers. If the forgery was discovered today, on an item that was forged ten years ago the statue will begin on the date of discovery. If the offense is admitted then the statue of limitations is overrided. It is very difficult to give you a definitive answer without knowing specifics.


What is the statute of limitations on mobile phone debt?

From my understanding most Cellular phone debt should fall under the statute of writen contracts because you sign a contract to begin service. I suggest contacting an atourney to verify this information.


Is your tax federal government wiped out after ten years?

In general, an IRS debt has a statute of limitations of 10 years. If the government cannot collect the debt within ten years, they write it off and it is no longer a valid debt. There are several things that can "toll" the statute of limitations, or temporarily stop it from running. These can include, but are not limited to,: 1. Filing an Offer in Compromise -- the statute of limitations does not run for the entire time that an Offer in Compromise is under review. 2. Filing a lawsuit against the IRS -- the statute of limitations does not run for the entire time litigation against the IRS is pending. 3. Filing for bankruptcy -- the statute of limitations does not run while you are under the protection of the bankruptcy courts, and it does not begin running again until six months after the bankruptcy is discharged or dismissed. 4. Filing a Collection Due Process (CDP) Appeal: a CDP Appeal is an administrative appeal that can be filed to protest proposed levies and seizures of property. The statute of limitations does not run while this Appeal is pending. 5. Military members serving in combat zones: the statute of limitations does not run if you are a member of the military serving in a combat zone. There are other small things that stop the statute of limitations from running as well. As a general rule, whenever the IRS is legally prohibited from attempting to collect the debt the statute of limitations is not running. Because many people will take one or more of these actions throughout the course of a ten year period, in practice the IRS usually ends up having 11-12 years to collect a debt, but that depends on each individual situation. 10 years is the baseline that everyone starts with.


Can you cancel an agreement being a guarantor?

No, you can not stop being a guarantor to an agreement while the terms of that agreement are in force. Thus if you are a guarantor for rent and the person your are guaranteeing fails to pay the rent - YOU must pay the rent.If you a guarantor to a loan and the person with the loan defaults, YOU must pay off the loan.This is what it means to be a guarantor - you can not get out of the agreement when things begin to go wrong.Think VERY carefully before being a guarantor to ANYTHING.