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Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
Electronic Fund Transfer Act
Equal Credit Opportunity Act
Expedited Funds Availability Act
Fair and Accurate Credit Transaction Act
Fair Credit Billing Act
Fair Credit Reporting Act
Fair Debt Collection Practices Act
Statutes of Limitation:
Consumers often believe there is a statute of limitation on the debt they owe, because there is a statute of limitation on many other offenses, The fact is, there is no statue of limitation on unsecured debts, only a limitation on the time during which your creditors can sue you for collection of the debt.
If you owe money because of consumer loans or credit card debt, a tax liability, damages related to land sale fraud, overpayment or underpayment of royalties or wages, money allegedly owed under an insurance policy, or money arising from a breach of contract –then you are obligated to pay it and the creditor is entitled to seek ways to make you pay it. The fact that you owe the money may be recorded on your credit report. Even if it has been several years since the creditor or a collection agency last contacted you, the debt remains, even if the time period in which you could be sued for the amount has passed.
Since you do owe the money, the creditor is entitled to seek remedies to get you to pay the debt, even though they can no longer file suit. The date after which you can no longer be sued for the debt is different in each state, as shown below, and the rules are different for debt secured by real property such as a vehicle or home. If you have questions about whether you owe a debt or not, what type of debt these laws apply to, or ways creditors can go about collecting the debt, please consult an attorney to evaluate your options in resolving the issue.
There are laws in place to protect you from abuse or harassment by debt collectors. If you feel you have been the target of unfair or illegal debt collection practices, you can contact the Federal Trade Commission to file a complaint or for additional information.
Statutes of Limitations gathered from various sources:
| State |
Oral |
Written |
Promissory |
| Alabama |
6 |
6 |
6 |
| Alaska |
3 |
3 |
3 |
| Arizona |
3 |
6 |
6 |
| Arkansas |
3 |
5 |
5 |
| California |
2 |
4 |
4 |
| Colorado |
6 |
6 |
6 |
| Connecticut |
3 |
6 |
6 |
| Delaware |
3 |
3 |
6 |
| D. of C. |
3 |
3 |
3 |
| Florida |
4 |
5 |
5 |
| Georgia |
4 |
6 |
6 |
| Hawaii |
6 |
6 |
6 |
| Idaho |
4 |
5 |
5 |
| Illinois |
5 |
10 |
10 |
| Indiana |
6 |
10 |
6 |
| Iowa |
5 |
10 |
10 |
| Kansas |
3 |
5 |
5 |
| Kentucky |
5 |
15 |
15 |
| Louisiana |
10 |
10 |
5 |
| Maine |
6 |
6 |
6 |
| Maryland |
3 |
3 |
3 |
| Massachusetts |
6 |
6 |
6 |
| Michigan |
6 |
6 |
6 |
| Minnesota |
6 |
6 |
6 |
| Mississippi |
3 |
3 |
3 |
| Missouri |
5 |
10 |
10 |
| Montana |
5 |
8 |
8 |
| Nebraska |
4 |
5 |
5 |
| Nevada |
4 |
6 |
6 |
| New Hampshire |
3 |
3 |
3 |
| New Jersey |
6 |
6 |
6 |
| New Mexico |
4 |
6 |
6 |
| New York |
6 |
6 |
6 |
| North Carolina |
3 |
3 |
3 |
| North Dakota |
6 |
6 |
6 |
| Ohio |
6 |
15 |
15 |
| Oklahoma |
3 |
5 |
5 |
| Oregon |
6 |
6 |
6 |
| Pennsylvania |
4 |
4 |
4 |
| Rhode Island |
10 |
10 |
10 |
| South Carolina |
3 |
3 |
3 |
| South Dakota |
6 |
6 |
6 |
| Tennessee |
6 |
6 |
6 |
| Texas |
4 |
4 |
4 |
| Utah |
4 |
6 |
6 |
| Vermont |
6 |
6 |
6 |
| Virginia |
3 |
5 |
5 |
| Washington |
3 |
6 |
6 |
| West Virginia |
5 |
10 |
10 |
| Wisconsin |
6 |
6 |
6 |
| Wyoming |
8 |
10 |
10 |
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