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Do I Still Owe After the Statute of Limitations Has Expired?

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Scissors & credit card in pieces on bank statement
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Question: Do I Still Owe After the Statute of Limitations Has Expired?
Answer: Yes. The only thing that erases you obligation to pay a debt is a cancellation from the creditor, discharge in bankruptcy, or actual payment of the debt. Even after the statute of limitations has expired on a debt, you are still legally responsible for paying the debt. However, the creditor or collector no longer has the liberty of using the court to force you to pay.

More FAQs on Debt Statute of Limitations

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