That will depend on how the debt is memorialized. For an oral agreement, Tennessee sets it at six years. It happens to be six years for a written agreement as well, though many states differentiate between the two.
It will take 7 years before the statue of limitations will be inactive on a debt in Tennessee.
What is the statue of limitation on a DUI in tennessee
In the state of South Carolina, the statue of limitations for debt is currently set at five years. The statue of limitations for debt is different in each state in the US.
6 years.
6 yrs
What is the statue of limitations for credit card debt reporting
Most states have no statue of limitations on this. Contact your state attorney general for advice.
No, only making a payment, promising to make a payment, or providing a letter of reaffirmation of the debt can reset the statue of limitations.
All debt has a statue of limitations. However that Statue of Limitations varies by locality. In most areas that Statue of Limitations is renewed whenever you make a payment. In your example the statue of Limitations is 4 years but you have been paying since 2002 and presumably have made a payment recently. In that case those 4 years begin at the time that you stop making a payment.The short answer is that in most areas the debt is owing till its paid. If if the account is beyond the Statue of Limitations it simply means the agency can't force you to pay through court order. However, they can still request payment.California is the notable exception but you need to research your own local laws.
No, Statue of Limitations expired, last desperate attempt to collect the debt. If they get you to pay even 5 dollars they got you right back again. meaning Statue of limitations starts all over again
Yes it certainly will. A payment acknowledges the debt and starts the period over again.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Tennessee is 6 years. That would be from the last use or payment.