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If you have been paying on a debt for 10 years or more and the debt has not been paid by 10 years is the debt covered by the statute of limitations?
Wiki User
∙ 8y ago
Statute of limitations are established by state law. Thus, your answer depends on the specific state law governing this account.
Certain states' laws have provisions which allow SOL to be tolled (stopped) in conjunction with certain circumstances, or re-set after a payment or an agreement to pay.
The best guess answer to your question is maybe not. But you should find out which state's law governs this account. That law will provide your specific answer.
NoBecause you acknowledge the debt and have been paying on it, the statute of limitations does not begin to run until after the most recent payments is made. If you stopped paying now, it would take however many years it takes for your state's statute of limitations to run before it would be considered off the books. And if the contract specifies a time for re-payment (say 30 years on a mortgage) the statute of limitations will not begin until the end of the contracted period.Wiki User
∙ 8y ago
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Can a credit card company sue you after fourteen years?
This will depend on the statute of limitations in your state but there are also other factors that will determine whether or not they can as well. The statute of limitations for your state is dependent on when the last time you made a payment or used the card. So, if you made a payment two years ago on the debt but it's been fourteen years since the last item was charged on your card you only have two years towards the statute of limitations not fourteen. Often, credit card company collection agencies will tell you that they will sue you even if the debt has passed the statute of limitations in order to try to collect on outdated debt. After the statute has passed the company has no legal right to collect it. Additionally, in most cases if the debt is more than 10 years old since the last payment had been made, it is not allowed to be on your credit report. Interestingly, if your states statute of limitations is five years, it can still be posted to your credit report until the 10 years has fully elapsed.
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What is the statute of limitations on a copyright infringement?
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Is there a statute of limitations in Oklahoma for receiving money from an inheritance?
A statute of limitations is related to bringing a law suit. As such, there is no such thing as a statute of limitations on an inheritence in Oklahoma.
Statute of limitations in South Dakota for negligence?
The statute of limitations in South Dakota for negligence is three years with the discovery rule.
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The statute of limitations for a negligence suit in Idaho is three years.
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