Being contacted about an old debt can be annoying. Even though debt collectors and creditors can contact you about a debt as long as you still owe it, they can only sue you for a certain amount of time. That amount of time is known as the statute of limitations. Here are answers to some of the most frequently asked questions about the statute of limitations on debt.
Q: What's the statute of limitation for my debt?
A: Each state has it's own laws on the statute of limitations for debt. Some states limits are as low as three years while others are as high as six...read more.
Q: Do I still owe a debt after the statute of limitations has passed?
A:Other than paying the debt, there are other specific events that can erase your legal obligation to pay...read more.
Q: Can a collector contact me after the statute of limitations has passed?
A:The Fair Debt Collection Act sets the rules for when a debt collector can and cannot contact you...read more.
Q: Can I be sued for a debt after the statute of limitations has passed?
A:The statute of limitations limits the time a creditor or collector can use the court to force you to pay a debt...read more.
Q: When does the statute of limitations clock start?
A:The most confusing thing about the statute of limitations is figuring out when the clock starts ticking. You say one date, the collector says another...read more.
Q: What can restart the debt statute of limitations?
A:Once the statute of limitations has started, you don't want to do something to restart it. If that happens, the debt collector gets much more time to sue you for the debt...read more.
Q: Are there debts without a statute of limitations?
A:There are certain types of debts that don't have a statute of limitations. That means the creditor or collector can sue you at anytime, no matter how old the debt is...read more.
Q: Why is an expired debt still on my credit report?
A:You might check your credit report and notice that a debt with an expired statute of limiations is still listed. In some cases, that may be perfectly legal...read more.
Q: How do I remove a debt from my credit report after the statute of limitations has passed?
A:The Fair Credit Reporting Act allows you to have old debts removed from your credit report....read more.
