Yes. [ADDED-see below] The SOL depends on the state and type of agreement. Also note that credit card debt is called an open end account. The SOL for debts that have expired (no longer required to pay) is not the same SOL used by credit bureaus. Take a look at the following site http:/www.credit-repair-specialist.com/debt-collection-statute-of-limitation.html and http://www.blogblackstocks.com/2007/02/how_long_does_n.html Just because the SOL has expired on a debt does not mean you do not owe the debt. Very few states extinguish the debt on expiration of SOL. When the SOL expires it just means that they can not sue you and win if you show up in court and use expired SOL as a defense. They can continue to attempt to collect on a debt forever. Items fall off your credit report 7 - 7.5 years from the DOFD, which is set by the OC and is federally mandated. This date can not change. SOL is state mandated and varies from state to state.
3 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.
California Statutes of Limitation Written agreements: 4 years, calculated from the date of breach.Oral agreements: 2 years.The statute of limitation is stopped only if the debtor makes a payment on the account after the expiration of the applicable limitations period.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Virginia is 3 years. That is usually from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Kentucky is 5 years. That is measured from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Florida is 4 years. That is typically measured from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Connecticut is 3 years. That is typically measured from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in California is 4 years. That is normally from the last use or payment.
Florida has set the statute of limitations at 4 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.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Indiana is 6 years. That is measured from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in New Jersey is 6 years. That is usually from the last use or payment.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Michigan it is one of the longest at 6 years. That is typically measured from the last use or payment.