What is Illinois statute of limitations on debts?

Answer 1

Open account or unwritten contract: 5 years. NOTE: Except, as provided in 810 ILCS 5/2- 725 (UCC), actions based on a written contract must be filed within 10 years, but if a payment or new written promise to pay is in made during the 10 year period, then the action may be commenced within 10 years after the date of the payment or promise to pay

Answer 2

The statute of limitations is going to be 3 years for lessor felonies such as this. And 18 months for misdemeanors. And it is tolled if the individual is not living in Illinois, or concealed the crime.

Answer 3

5 years on open accounts. If you want more information go to this website: http://www.fair-debt-collection.com/statue-limitations.html

Answer 4

You will owe your credit card debt until it is forgiven, discharged in bankruptcy or paid off. Credit card debt can be negotiated down with the creditors.

Answer 5

as far as i know there is no statute of limitations on cc theft. but the longer it takes to convict the lesser the charge.

Answer 6

That would be classified as a written agreement in Illinois. That sets the limit at a whole ten years from your last acknowledgement of the debt.