Warning…your old credit card debt may be uncollectable.
One thing we all know is that credit card companies are often unscrupulous. They will stoop to any level to collect, even if they have no right to collect, they will still try. If that is not bad enough, when they sell bad debt for pennies on the dollar to even tougher collectors, those that buy large bundles of the worthless paper, they are even more unscrupulous and will sometimes even sue you for a debt they cannot legally collect hoping that you will collapse and pay.
So here are the simple facts. Every state has a Statute of Limitations. Beyond this time period they cannot legally collect the debt. You must determine what the statute is in your state and then if your debt is older then the statute allows for collection, you simply inform the collector that you are not required to pay as the statute has run and your debt is too old to collect.
The following chart is as accurate as I can get it, so you may want to check with a local lawyer in your state to confirm the time period has not changed, which is possible. I am not giving you legal advice here, but simply reporting the Statute of Limitations for each state. Check with your lawyer for legal advice. But it is safe to say if the Statute of Limitations has expired the creditor cannot legally collect from you.
The number beside the state name is the number of years the Statute of Limitations must run before the debt becomes legally uncollectable.
| Alabama | 3 | Maine | 6 | Oregon | 6 |
| Alaska | 6 | Maryland | 3 | Pennsylvania | 4 |
| Arizona | 3 | Massachusetts | 6 | Rhode Island | 10 |
| Arkansas | 3 | Michigan | 6 | South Carolina | 3 |
| California | 4 | Minnesota | 6 | South Dakota | 6 |
| Colorado | 6 | Mississippi | 3 | Tennessee | 6 |
| Connecticut | 6 | Missouri | 5 | Texas | 4 |
| Deleware | 3 | Montana | 5 | Utah | 4 |
| Florida | 4 | Nebraska | 4 | Vermont | 6 |
| Georgia | 4 | Nevada | 4 | Virginia | 3 |
| Hawaii | 6 | New Hampshire | 3 | Washington | 3 |
| Idaho | 4 | New Jersey | 6 | West Virginia | 5 |
| Illinois | 5 | New Mexico | 4 | Wisconsin | 6 |
| Indiana | 6 | New York | 6 | Wyoming | 8 |
| Iowa | 5 | North Carolina | 3 | ||
| Kansas | 3 | North Dakota | 6 | ||
| Kentucky | 5 | Ohio | 4 | ||
| Louisiana | 3 | Oklahoma | 5 |
You should know your rights. If the State Legislators have deemed this time period adequate for collection purposes, then you should know this and act accordingly. Information is important.
This does not mean you do not owe the debt, it merely means the credit card companies or whomever holds the obligation cannot use the legal system to collect it. You need to decide how this effects you and how you will deal with this issue. Call for help 413-549- 2966
I am searching for the laws that dictate how a debtor is considered uncollectible and how a charge-off can occur while payments are being made and being kept current per what is known to be owed. However, the credit card company claims more is owed and refuses to provide the records they are adhering to in determining this alleged debt. Your site is the best I have come across and I hope you have more to relate to me.
Karin Huffer
welcome to the wondeful world of credit card debt, their attitude and prctice is one of greed and selfishness, all for them nothing for you is their mantre, they may act inappropriately and even illegaly but it is wat it is, this is one example of might makes right. They do not care so they do what ever they choose, what is the saying Power corrupts?
its a tough and expensive uphill fight, even if you are correct in your assertions. I can offer you no god advie other then to fight the fight and see what hapens, it sound as if they are out of control and you are in the right…how to move the montain is a difficult task indeed,
don
Hi Donald,
One clarification on this post:
The statute of limitations dictates, by state, the number of years you can be sued for collections on a debt. There are several statutes for each state, and credit card debt (open-ended debt) may have a different statutory period than does a fix-payment debt, like a car loan.
Even though they can’t sue you after a certain period of time, they can still come after you. They just can’t do anything to force you to give up the money
Brent Tucker
Author, ‘Credit Cleanup’
http://blog.mycreded.com
Hello I was reading your page. I never knew this because I live in the state of georgia. I had a capitol one credit about 15 years ago. I recently just got off of bankrupt but I didn’t put the card on because i forgot to. they have got a lawyer to try to sue me for the money.
I called the lawyer’s office to set up payments but they wanted a big down payment. I don’t have that kind of money. anyway thanks for the ad. how can i use this statute of limitations in the state of georgia,
Does the debt still affect your credit score?
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I have received a letter from a debt collection agency for a debt from 15 years ago, which I did not remember owing. I live in the state of Georgia. What should I do?
Peggy, they cannot collect legally, its too late, so fret not, and challenge the debt, make them prodiue original paperwork.
correct, the statutes do not eliminate the debt it just removes the legal process from collecting.
Simply inform the lawyer the statute of limitations has removed his right to collect through the legal process and then walk away from the debt. If he takes you to court explain this to the judge and ask for damages as he has wasted your time and the courts time and had notice from you, send him a certified letter.