SOL's are regulated by state laws. To find out what the SOL for credit card debt is for your state you can do a simple search. Example: "Name of your State" Statute of Limitations For Debts. The Delaware Statute of Limintations for open accounts for debt collection is 4 years. The Delaware Statute of Limitations for written contracts is three years.
Texas has set the statute of limitations for an open ended account at 4 years. A credit card is an open ended account. That will be measured from the last communications from the debtor. The credit card may be based on a different jurisdiction which could be longer! You need to check your agreement for the applicable jurisdiction.
Maryland has set the statute of limitations at 3 years. A credit card is an open ended account. That will be from the last communications from the debtor. Please note that the credit card may be based on a different jurisdiction which could be longer! Check your agreement for the applicable jurisdiction.
In Idaho the statute of limitations for an open ended account is set at 4 years. A credit card is an open ended account. That will be measured from the last communications from the debtor. The credit card may be based on a different jurisdiction which could be longer! You need to check your agreement for the applicable jurisdiction.
The statute of limitation for credit card debt in Kentucky is 3 years.
See related links below.
6 years from the DLA.
http://www.creditcards.com/credit-card-news/credit-card-state-statute-limitations-1282.php
A credit card or other bill is usually a written agreement. In Texas they have set the limitation at 4 years.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Colorado is 3 years. That is measured from the last use or payment.
one year
The statue of limitations for enforcement of a debt in Texas is 4-years for most types of debts, and that starts from the date the account was open, or last payment made (Texas Code Section 16.004 (a) (3))
4 years
7 years
The statute of limitations on credit card debt in South Dakota is six years. The company is allowed to aggressively pursue payment for that period of time.
Indefinitely!! However that "statute of limitations" is different per state. These limitations prevent an agency from suing you or reporting your debt to the credit bureaus if the age of the debt is too long. Here's the limitations per state: http://www.nolo.com/legal-encyclopedia/statute-of-limitations-state-laws-chart-29941.html Experience: I own a collection agency.
That would be classified as a written agreement in Texas. There the limit is four years from the last acknowledgement of the debt.
Is there a cost to find out the staue of limiations in years on credit card debt
What is the statue of limitations for credit card debt reporting